Inspirational Message of Deputy Speaker and Antique Congresswoman Loren Legarda DTI Online Slingshot (December 08, 2020)

December 22, 2020

Inspirational Message of Deputy Speaker and Antique Congresswoman Loren Legarda
8 December 2020/ Online Slingshot 2020 (DTI)


It is my honor to welcome everyone to this year’s Online Slingshot event. I always look forward to events that gather MSMEs and start-ups, as they remind me of two advocacies that are close to my heart: the richness of our culture and the development of our local enterprises.  While we work all year round to promote and advance both advocacies, I cannot help but feel greater excitement as we place once again the spotlight on our entrepreneurs. 

I personally believe that the pursuit of sustainable progress and development begins from the moment we decide the end goal: that everyone in the society should benefit from the economic gains we get from development.

Our micro, small, and medium enterprises (MSMEs) are our crucial economic partners, as they run the market, representing close to more than 99 percent of our businesses. Through this event, we are able to empower them with the tools, with the wherewithal, to make sure that they are able to survive and thrive amid the new normal. 

I have always supported our MSMEs, being the principal sponsor of both the amendments to the MSME Law, and of the Barangay Kabuhayan Act. When I was the Chair of the Senate Committee on Finance, I have provided funding for programs that would greatly support these livelihood and local enterprises. The Department of Trade and Industry has been provided with additional funds for the shared service facilities program, the one town, one product program and for the conduct of the National Arts and Crafts Fair. As principal author of RA 11923, also known as the Innovation Act, we should already support ecosystems that facilitate innovation in our entrepreneurial model, putting this in the center of our development policies, especially for MSMEs. I have also filed House Bill No. 7672, a bill which seeks to institutionalize the One Town, One Project Philippines Program, which shall capacitate our MSMEs with the needed support to further develop and prosper. 

It is good to hear that the Philippines is ranked 50th this year in the Global Innovation Index, having improved its position by 4 notches in 2019. This goes to show that we are taking this Fourth Industrial Revolution seriously, and we must exhaust all possibilities that the opportunities are inclusive and comprehensive. 

Now is the time to harness the power of this triad: innovation, science and technology, applying it  to all aspects of our lives. 

Ultimately, these programs and these laws remind me of how we can all work together to help our local enterprises.  The key is convergence:  between the Executive and Legislative branches of government, among the different government agencies in the Executive, and even among the different sectors in the local communities. The laws and national programs that I have supported are crucial in ensuring that our MSMEs are given the life and the fuel to sustain our economy. 

Congratulations to those who have organized this event, and I wish you continued success. May we all be able to continue to support our MSMEs, giving them the wider attention that they truly deserve.

Thank you and good day.