Climaco cites MSMEs role in dev’t of city’s economy PDF Print E-mail
Friday, 31 July 2015 11:25

Mayor Beng Climaco has pointed out that the huge contribution of the micro, small and medium enterprises (MSMEs) to the city, regional and global economies cannot be discounted.

Speaking at the MSMEs conference at a local hotel yesterday morning, Climaco stressed that the MSMEs as a sector accounts for 99.2% of the total business permits issued by the city government and contributes 62% to the total number of employed persons in Zamboanga.

She said the conference, organized by the Department of Trade and Industry (DTI), was a concrete measure to confront the challenges that MSMEs are facing, and to create a viable method to address the challenges.

“By bringing together the experts and entrepreneurs, the conference facilitates the exchange of ideas derived from both research and experience,” the chief executive said, adding that the insights generated from the activity should help the MSMEs operate more confidently in the context of the Go Global community for inclusive growth.

In the meantime, the mayor challenged the business sector to develop the open areas outside the “pueblo” into a new economic hub as a means of taking positive action, as strengthening security, health and education remain as the strong platform of her administration.

Subject to reasonable classification, Climaco also reiterated the need for businessmen in the city to install closed circuit television (CCTV) cameras in their respective establishments and hire security personnel in line with the city’s peace and order campaign. “This can also be used by the city for disaster preparedness purposes.”

She also cited the need to develop an effective mechanism to fine-tune the financial framework in the Zamboanga Peninsula.

“Access to finance should be made available to the MSMEs,” Climaco said even as she vowed to restructure the existing financial access program of the city as well as to work with financial institutions in the private sector and the cooperatives.

“Collaboration,” according to Climaco, “is the key to creating a more favorable lending environment.” She believes that the existence of cooperatives should be exploited and should likewise fine-tune with financial access to the informal markets.

She urged both the local chambers of commerce, organized business groups and industry associations to partner with the local government in a bid to strengthen the local economy.

The MSMEs conference was graced by Senator Bam Aquino and DTI Secretary Gregory Domingo.— Vic Larato