Cong. Mangaoang reiterates support for MSME Magna Carta development

Tabuk City, Kalinga – Kalinga Representative Allen Jesse Mangaoang reiterated his support for the development of the Magna Carta for MSMEs during the ceremonial awarding of livelihood kits to the 68 Tabuk Micro, Small and Medium Enterprises (MSMEs) held Friday, October 21, in Bulanao.

The Magna Carta, according to the solon, aims to provide assistance to entrepreneurs’ access to new technologies and regular entrepreneurship training programs for workers.

Represented by Regino Wacas, Mangaoang expressed local entrepreneurs will greatly benefit from the passage of the proposed measure amending the Magna Carta for MSMEs that was enacted in 1991 as Republic Act (RA) 6977. The law was amended in 1997 through RA 8289. In 2008, RA 9501 further amended the Magna Carta.

To ensure the continuing viability and growth of MSMEs, House Bill 9178 was sought, seeking yet another development.

“Nayun na diay amendment kuma ket iman-mandate na dagiti lending institutions, dagiti cooperative nga agi-set aside ti 8 percent of their loanable budget, dagiyay mabalin nga maipautang da para t MSMEs,” Mangaoang stated.

The bill was approved on final reading by the House of Representatives in 2021. It is still pending in the Senate as of date.

DTI doing its work

Congressman Mangaoang went on to commend the Department of Trade and Industry for “doing its work to support the sector that is keeping our economy vibrant.”

The agency, he said, has been implementing Livelihood Seeding Program – Negosyo Serbisyo sa Barangay, Kapatid Mentor Me, Shared Service Facility, and other programs aimed at capacitating the entrepreneurs.

“DTI’s mandates have become even more critical to our collective nation building efforts because they carry an immense responsibility on their shoulders. Defined in numbers, 99.5 % of business establishments in the Philippines, employing 63% of the country’s work force and accounting for almost half of the nation’s gross domestic products,” added the congressman.

He then asked the recipients to utilize the livelihood kits in order to reach the target set to them by the agency, integrating disaster resilience at the core of their business strategies.

“It is always in the best interest of everyone if our agenda is not only focused on profit or economic development. Our nature of goals should also consider how we contribute to the general well-being of the people and as well as the safety and resilience of our communities,” he highlighted.

Assuring the public of his support of programs and policies covering entrepreneurs, he encouraged MSMEs to look at the challenges that are ahead as opportunities to improve, innovate and contribute to national development.

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