Business partner cities support SMEs

MANILA, through the Department of Trade and Industry’s Foreign Trade Service Corps (DTI-FTSC), recently joined the Business Partner City (BPC) discussion to help promote bilateral and multilateral economic cooperation and boost the development of small and medium enterprises (SMEs) in the Asia-Pacific region.

Participated in by 15 member cities including Hong Kong, Singapore, Bangkok, Kuala Lumpur, Seoul, Shanghai, Mumbai, Melbourne, Tianjin, Osaka, Jakarta, Aukland and Ho Chi Minh City, BPC aimed to discuss measures in boosting the development and support services through business interactions for industries and small enterprises within the region.

Foreign Trade Officer Mario Tani discussed opportunities in the Philippines as well as the sustainability of the country’s unprecedented growth amidst a new administration. “The Philippine government is focused on achieving inclusive growth through a number of breakthrough programs focusing on SME development,” Tani said.

SMEs are considered to be an important economic growth driver for the Philippines as they comprise over 90% of the total number of establishments in the country. They are seen to be primary stimulator of domestic demand through employment generation, competition, and innovation. DTI, as the lead agency for economic development, sees the critical role of SMEs in achieving inclusive growth.

One of the forwarded initiatives of the Philippine government in supporting SMEs is the establishment of the Startup Ecosystem Development Program (SEDP). Targeted at startups and innovation entrepreneurs, SEDP aims to usher in a new breed of enterprises by enhancing the business environment conducive for growth and development of startup businesses.