By Gabriela Baron
President Ferdinand R. Marcos Jr. on Friday, Nov. 18, stressed the need to narrow the digital divide to allow disadvantaged micro, small, and medium enterprises (MSMEs) to thrive and participate in the digital economy.
Marcos, during his intervention in the 29th Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting Retreat Session, said the revitalization of MSMEs is one of the top priorities of his administration.
“However, they continue to face systemic problems and structural challenges heightened by the pandemic. MSMEs need opportunities and assistance to recover, grow and progress in the post-pandemic and digital age,” Marcos told economic leaders.
Marcos also pointed out that MSMEs need to adopt e-commerce to become more adept and agile in the use of digital solutions and approaches.
“This is in addition to facing complex challenges that going digital presents, such as data privacy and cybersecurity issues, lack of digital infrastructure, digital fraud, online consumer protection concerns, digital inclusion and access to finance and the persisting digital divide, among others,” he added.
According to Marcos, APEC economies recognize that supporting MSMEs’ digitalization efforts post-pandemic will require policymakers and the private sector to collaborate and cooperate in “establishing interventions and regulatory frameworks” that will address long-term resilience and innovation.
