The Aquino administration will promote entrepreneurship that provides employment, helping small and medium firms with access to credit and diffusion of technologies and skills.
It will support small and medium enterprises. SMEs are the main generators of jobs in the country. But they lack access to credit and finance. They also need access to markets and to technology so that they can connect to the global economy. An Aquino government will not only encourage microfinance and small business loans, which was a cause supported by former President Corazon Aquino, but will also harness the remittances of our overseas workers by creating financial instruments that can attract remittances and be channeled to the rural sector. For market and technology access, we will encourage the private sector to link up with local firms, using information exchange, by giving the private sector the appropriate incentives.
The Aquino campaign platform: Action plans on Economy
Promise 10: Target key industries with greatest potential for growth
Promise 13: Promote technical and vocational education
Promise 16: Lower cost of doing business in the country
May 29, 2014 - The Philippines’s competitiveness council expects to considerably improve its rankings in next year’s World Bank and International Finance Corp.’s (IFC) Doing Business Report, which is currently at 108th, and advocates policy changes to improve the country’s competitiveness. The annual Doing Business Report by the World Bank and IFC measures the ease with which a business undertakes certain processes with government agencies. (Continue reading)
May 4, 2013 - The Bangko Sentral ng Pilipinas (BSP) is looking to beef up its credit program to address low lending to micro, small and medium enterprises (MSME) operating across the country’s municipalities and provinces. Under the BSP’s Credit Surety Fund (CSF), MSMEs facing financing constraints are given access to bank credit. (Continue reading)
May 21, 2013 - An inter-agency task force has been formed to improve the ease of doing business in the country after President Benigno Aquino III signed Administrative Order No. 38. In a statement, Malacañang said the Task Force on Ease of Doing Business will be led by Trade Secretary Gregory L. Domingo and will push for an action plan drafted by the National Competitiveness Council (NCC) in hopes of raising the country's rank in the World Bank's annual Doing Business survey. (Continue reading)
May 7, 2013: The Department of Labor Secretary Rosalinda Baldoz said the government intends to promote agribusiness to overseas Filipino workers. (Continue reading)
March 16, 2013: The Department of Labor and Employment encouraged high school graduates to take up Entrepreneurship course in College. (Continue reading)
February 6, 2013: The Department of Trade and Industry offers training to aspiring entrepreneurs. (Continue reading)
May 10, 2012: [...] Foreign Affairs Undersecretary for International Economic Relations Laura del Rosario acknowledged the Federation’s contribution to Philippine economic growth and offered the DFA’s assistance in expanding its potential overseas markets through trade exhibits and missions, business matching sessions, and similar services. She likewise articulated on the country’s vision of allowing our small and medium enterprises (SMEs) to become an integral part of the global supply chain of manufactured goods. (Continue Reading)
April 4, 2012: The Aquino government, through the DOLE’s Labor and Employment Plan 2011-2016 (the accompanying sectoral plan to the Philippine Development Plan 2011-2016) has specifically identified entrepreneurship as part of the country’s strategic responses to meet the challenge of improving employment levels and access to employment opportunities. (Continue reading)
March 23, 2012: The DENR has earmarked a total of P100 million to finance entrepreneurial ventures of selected upland-based peoples’ organizations taking part in the department’s Community-Based Forest Management (CBFM) program. “The government vision is to see our people’s organizations developed into entrepreneurs, competent in financial management as well as in marketing strategies,” Environment Secretary Ramon Paje said. (Continue reading)
February 21, 2012: TESDA Director General Joel Villanueva urged OFW families to enrol in TESDA's entrepreneurship programs, as a way to grow the dollar remittances they receive. “I always advise them to invest their remittances into business and become entrepreneurs instead of just waiting for their monthly remittance. I encourage them to enrol in TESDA" said Villanueva. (Continue reading)