Poe wants to Anti-Red Tape Act amended to strengthen MSMEs

By , on February 18, 2016

(Photo courtesy of the official Facebook page of Grace Poe)
(Photo courtesy of the official Facebook page of Grace Poe)

MANILA—Independent presidential candidate Senator Grace Poe on Thursday said she will push for the amendment of the Anti-Red Tape Act to reduce long process in getting business permits, particularly among micro, small, and medium enterprises (MSMEs) in the country.

”It is difficult to create business in our country. The process is long. The time in getting business permit should be short and that’s why we should amend ARTA,” Poe said in her speech during the 8th GoNegosyo Filipina Entrepreneurship Summit at the World Trade Center in Pasay City.

Poe said the government had little assistance for the small and medium enterprises despite 99.6 percent of the labor force came from the SMEs.

”We will push measures to strengthen MSMEs. We will push for extensive access in financing mechanisms, technology assistance and assistance for creating business,” Poe said, to the delight of the more than 7,000 crowd, mostly business management students from different schools in Luzon.

The lady senator said providing government credit guarantee mechanism would open more opportunity for national since it provided more capital for the small businessmen.

Poe cited the Thailand model, where taxes for MSMEs have been lowered particularly for those who just started their business.

She said there was also a need to increase the business centers that would assist the newcomers by providing them the professional consulting services.

”Let us strengthen our MSMEs that have leadership access and can compete with foreign markets, particularly in the ASEAN (Association of Southeast Asian Nation) and EU (European Union),” the leading presidential aspirant said.

Poe recognized the efforts of GoNegosyo founder Jose Concepcion and fellow senator Cynthia Villar, who for the last eight years have formed partnership to train overseas Filipino workers (OFWs) on how to invest properly their hard-earned money abroad.

She underscored the need to also strengthen the private and public partnership like the Coke-TESDA Sari-Sari Store Training and Access to Resources which help more women entrepreneurs.

The senator said the enactment into law of the Freedom of Information Bill is the best tool to fight corruption specially in getting business permits.

For the students, Poe said she intended to push measures that would provide free tuition fee for the college students.

”We have already UNIFAST Law wherein every Filipino even though you are poor, will have a chance to finish college,” Poe said, drawing loud applause from the audience.