‘Sulong’ forums underscore role of SMEs in economic growth

Finance Secretary Carlos G. Dominguez III said that spinning off the annual “Sulong Pilipinas” consultative conference into regional forums across the country underscores the importance given by the government to the business sector in its pursuit of high and inclusive growth.

Dominguez said the government doubled its efforts this year to connect with the private sector by involving smalland medium-scale enterprises (SMEs), which represent 99 percent of business entities and employ the bulk of the country’s workforce.

The finance chief said SMEs is “a crucial component in our economy.”

To also step up such efforts, regional workshops, now dubbed the “Sulong Pilipinas-Philippine Development Forum (PDF),” were held earlier in Cebu City, La Union and Pampanga.

“We believe consultations between government and the private sector should be an ongoing affair,” said.

“To improve representation of all parts of the country and increase access for stakeholders, we have decided to hold regional forums, with the purpose of primarily gathering the inputs and recommendations of representatives from our small and medium enterprises or SMEs,” he added.

“Here in Davao, where businesses are flourishing, and the spate of infrastructure investments under President Duterte’s ‘Build, Build, Build’ program will catalyze its growth potential, we anticipate a lively discussion in the country’s robust economic and fiscal position,” Dominguez said.

“We also anticipate a wealth of insight from the private sector on how to power our economic breakthrough,” he added.

Dominguez said the earlier forums held in Luzon and Visayas secured for the government the support of SMEs and the rest of the business sector in its proposed lowering of the corporate income tax (CIT), which, they said, would enable them to expand their businesses.

He said SMEs have also backed the reforms outlined in the Ease of Doing Business (EODB) law, especially the provision on the “zero-contact” policy, which they believe will create the most significant positive impact.

“Sulong Pilipinas has proven to be an effective mechanism for providing SMEs a voice in the shaping of policy,” Dominguez said.

The forums in Cebu and San Fernando yielded a new set of action programs for the government, with the need to increase agricultural output through better access and improved public investment in new farm technology emerging as the business sector’s top recommendation.