MSMEs Boost Iloilo Economy

Iloilo City (PNA) — Micro, small and medium enterprises (MSMEs) have their share in shaping the business environment of this city.

City mayor Jed Patrick Mabilog, in welcoming delegates of the national MSME national summit on Monday, cited that MSMEs “bolstered the metro economy, helped the local government reduced poverty and are helping shape the business environment.”

“Entrepreneurial potentials were also developed while at the same time competition is being stimulated, he said.

“Over the last five years, this public servant has encouraged entrepreneurship and the creation of MSMEs because I believe then as I believe now that a vibrant MSME sub-sector is indispensable for achieving sustainable economic transformations,” the mayor said.

He said that the growth of MSMEs here can be attributed to the business-friendly framework conditions initiated by the local government unit (LGU).

He impressed hundreds of delegates when he disclosed that processing of business permit takes only 30 minutes.

Moreover, “appropriate free hands-on livelihood, vocational and technological training to unemployed youths and adults” was introduced to ensure the steady stream of entrepreneurs.

The mayor said that many of their graduates have since put up their own micro, small and medium enterprises and are now playing important roles in the socio-economic development of Iloilo City besides providing employment to hundreds, if not thousands, of Ilonggos.

“Right now, we are focused on maintaining the growth of the MSME sector because we believe the sector is not only an important constituent of our economy but is also playing a crucial role in realizing our goal to make Iloilo City the top destination and the best livable city in the country,” he added.

The MSME national summit coincides with the week-long 22nd APEC SME ministerial meeting and related cities that kicked off in this city Monday.

The gathering was attended by MSME stakeholders anchors on the theme, “Mainstreaming Philippine MSMEs in the Global Market.” (PNA)/ZST/AJP/PGLENA/CBF