MSMEs make up over 99 pct of Philippine businesses: finance secretary-Xinhua

MSMEs make up over 99 pct of Philippine businesses: finance secretary

Source: Xinhua| 2022-09-12 18:21:30|Editor: huaxia

MANILA, Sept. 12 (Xinhua) -- Micro, Small, and Medium Enterprises (MSMEs), which comprise over 99 percent of all businesses in the Philippines, are the country's primary employers, the Philippines' Department of Finance said on Monday.

Philippine Finance Secretary Benjamin Diokno said MSMEs generate over 5.3 million jobs, or 62.66 percent of the country's total employment.

He urged industry and business operators to transform the country's business landscape by mainstreaming the use of digital technology in business operations.

"Train and equip your workforce to become digitally-empowered employees, managers, and leaders," he told the country's franchisers during a forum.

Diokno said the COVID-19 pandemic highlighted the importance of integrating digital technology and sustainability to ensure businesses remain viable and competitive amid an unpredictable global business climate.

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