The Department of Trade and Industry (DTI) unveiled a strategic plan to propel micro, small, and medium enterprises (MSMEs) into the digital age, positioning them for global competitiveness.
Through the MSME Digitalization Agenda and Work Plan, Trade Secretary Alfredo Pascual noted the crucial role of digital transformation in empowering vital businesses to thrive in the evolving economic landscape. Comprising 99.6 percent of all businesses in the Philippines, MSMEs are the backbone of the national economy. However, many face challenges in adapting to rapid technological advancements.
Recognizing this, the DTI, under Pascual’s leadership, is committed to bridging the digital divide and fostering an enabling environment for MSMEs to embrace digital solutions.
The DTI outlined several key initiatives to drive digital transformation among MSMEs, including the use of cloud-based platforms. These platforms will streamline and monitor over 2 million MSMEs using efficient data management, enabling targeted policy development and support.
Harnessing the power of e-commerce platforms will also help facilitate access to wider markets and boost sales potential by connecting MSMEs to online marketplaces and digital payment solutions. The third initiative involves the creation of strategic alliances. Collaboration with industry leaders, regional players and digital providers will deliver cutting-edge technology and resources directly to MSMEs, fostering knowledge sharing and capacity building.
The DTI also underscored the importance of collaboration between government, industry stakeholders and MSMEs themselves in achieving inclusive economic growth.
Inter-agency cooperation is seen to shape the upcoming five-year MSME Development (MSMED) Plan.
Presented to the President at the end of 2023, the roadmap will serve as a comprehensive framework for harnessing the full potential of MSMEs through digital transformation, positioning them for success on the international stage.
With a clear vision, collaborative efforts, and concrete action, the DTI is paving the way for a future where Philippine MSMEs are not only digitally equipped but also globally competitive. This not only fuels individual business success but also propels the Philippines towards a resilient and more productive economy.
The various collaboration and interactions among industry players are expected to contribute to the vision of “Bagong Pilipinas,” a nation where empowered MSMEs drive economic progress and global competitiveness.
“Together, let us ensure that MSMEs thrive in the digital age, propelling Philippine economic prosperity. Let’s work together, embracing the bright and promising digital future that lies ahead for a Bagong Pilipinas,” Pascual said.