Local development and innovation are being propelled by micro, small, and medium enterprises (MSMEs) in the Philippines, according to Trade Secretary Cristina Roque, who claims that the country is bucking the worldwide trend of economic instability.
Speaking on March 27 at the Asia MSME Forum 2025, Roque said the nation’s economy is one of the fastest-growing in Asia, driven by a vibrant workforce and a resilient culture of entrepreneurship.
“We are emerging as one of Asia’s fastest-growing economies—with strong consumer confidence, a dynamic workforce, and a new generation of Filipino entrepreneurs brimming with courage, creativity, and resilience,” Roque said during her address.
She acknowledged that the global economic landscape is currently defined by inflation, geopolitical risks, and rapid technological shifts—but noted that the Philippine experience has taken a different turn.
This change is based on the five-point agenda for MSMEs put forth by the Department of Trade and Industry (DTI), which seeks to strengthen the sector’s competitiveness in the long run.
The digitization, AI integration, product/market diversification, enhanced financial access, and franchising-based scalability are the main points of the framework.
As a previous business owner, Roque claimed to have personal experience with the challenges of starting a company from the ground up. She cited the DTI’s continuous initiatives to provide small businesses the resources they need to prosper in a tech-driven economy. She also emphasized the need of training and mentoring in improving small enterprises’ daily operations.
The department has recorded growing success stories among entrepreneurs. These include a sari-sari store owner in Davao who now manages a regional chain, a mother in Bicol who turned local abaca into export-quality fashion, and a Cebu-based cook whose food business now serves customers across Southeast Asia through e-commerce.
“These stories of success are not rare anymore. They are multiplying, because we are working together—government, businesses, and civil society—to nurture an environment where MSMEs don’t just survive, they lead and inspire,” Roque said.
In 2024, the DTI’s Negosyo Centers supported more than 1.5 million entrepreneurs through training, mentoring, and financial programs.
Women-led businesses—accounting for 62 percent of all MSMEs—have also benefited from initiatives like SheTrades PH and DTI’s digitalization drive, which help connect Filipino entrepreneurs to global markets.
