Duterte signs EO approving development plan for MSMEs

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President Rodrigo R. Duterte on November 12, 2017 pledged support for the country’s micro, small and medium enterprises (MSMEs) recognizing their significant contribution in achieving inclusive growth. Photo shows the president deliver speech at the launch of the ASEAN Mentorship for Entrepreneurs Network (AMEN) and opening of ASEAN Business and Investment Summit (ABIS) at Solaire Grand Ballroom in Pasay City. -- PRESIDENTIAL COMMUNICATIONS

Malacañang announced on Tuesday, April 10, that President Rodrigo R. Duterte has signed Executive Order (EO) No. 50 approving the development plan for 2017-2022 of the Micro, Small, and Medium Enterprises (MSMEs).

The President’s EO also directs concerned government agencies and instrumentalities, including government-owned or -controlled corporations (GOCCs) and local government units (LGUs) to adopt the MSME development plan for 2017-2022 which, according to the EO, “shall serve as the blueprint for integration and collaboration of relevant government and private sector institutions for MSME development.”

Mr. Duterte and Executive Secretary Salvador C. Medialdea signed the document on April 4.

In its statement on March 21, the Department of Trade and Industry (DTI) said the development plan that was initially approved by the MSME Development Council “presents improved and innovative development strategies to achieve the target outcomes called Trabaho, Negosyo, Kabuhayan, in the next five years.” — Arjay L. Balinbin