Monday, September 9, 2019
DRIVERS OF MSME DEVELOPMENT
Thai Prime Minister Prayut Chan-o-cha met Department of Trade and Industry (DTI) Secretary Ramon Lopez and other ASEAN Economic Ministers (AEM) prior to the opening of the 51st AEM Meeting and Related Meetings in Bangkok on 6 September 2019. The Prime Minister encouraged ASEAN countries to support micro, small, and medium enterprises (MSMEs) by teaching technological and digital know-how and encouraging innovation – the same strategies that President Rodrigo Duterte and DTI implement. The Prime Minister also underscored the importance helping SMEs level up their businesses. In the Philippines, DTI continues its effort in upgrading MSMEs and ensuring they are at the front and center of its economic agenda through various public and private partnerships. DTI implements the 7Ms framework (Mindset Change, Mastery, Mentoring, Money, Machine, Market Access and Models of Negosyo), a holistic approach of the government that would develop smarter entrepreneurs for poverty reduction.