Speaker vows sustained support for entrepreneurs

By Jovee Marie N. dela Cruz @joveemarie

islative agenda is geared toward their empowerment and growth, working relentlessly to create a level playing field for all businesses.

Our initiatives—simplified business registration, tax reform, affordable financing, and digital infrastructure investment—reflect this commitment. We are convinced that reducing these barriers will unlock our MSMEs’ full potential, fostering their growth and furthering national progress,” he added.

Bank of the Philippines and the Development Bank of the Philippines (DBP) to assist small businesses and “strategic” companies.

For this purpose, the bill seeks to increase DBP’s capitalization from P35 billion to P100 billion, and allocates P7.5 billion to Land Bank and P2.5 billion to DBP for lending to small enterprises.

By Malou Talosig-Bartolome @maloutalosig

TWENTY-TWO countries have shown solidarity with the Philippines as it marks the seventh year of its legal victory before an international arbitral tribunal invalidating China’s claims over the South China Sea.

A t a forum organized by the Stratbase ADR Institute in Makati City, ambassadors from Australia, Japan, European Union Delegation, France, United Kingdom, United States, and India expressed concern over China’s continued militarization of the rocks and reefs in the West Philippine Sea and disregard for the ruling of the arbitration tribunal.

A side from France, 15 of the 27 members of the EU also subscribed to the EU Delegation statement supporting the Philipppines’ call for freedom of navigation in the South China Sea. These are Belgium, Czech Republic, Denmark, Germany, Ireland, The Netherlands, Poland, Austria, Romania, Slovakia, Finland, and Sweden.

Canada also issued a statement from Ottawa castigating China’s “continued refusal to accept the tribunal decision, and its coercive behavior in the East and South China Seas.”

“ Today is a really important day not for the Philippines but for the world. Australia has a long-standing, long partnersip with the Philippines to ensure that 2016 arbitration ruling is properly implemented and properly followed,” Australian Ambassador to Manila Hae Kyong

Yu PSM told reporters.

I n Tokyo, Japanese Foreign Minister Hayashi Yoshimasa stressed that the Arbitral Tribunal’s award is “final and legally binding.”

The claim by China that it will not accept the award is against the principle of peaceful settlement of disputes . . . and undermines the rule of law as a fundamental value of the international community,” Hayashi said in a statement.

I ndian Ambassador to Manila

Shambhu Kumaran said India also lost in an international arbitration ruling on their maritime boundary with Bangladesh at the Bay of Bengal in 2014.

“ The judgment was not entirely in India’s favor but we have recognized and implemented that award,” he said.

He said a “real test of state behavior” rests on countries to implement agreements which have been signed and implement those agreements.

US State Department spokesman Matthew Miller, meanwhile, issued a statement from Washington DC urging Beijing to “comport its maritime claims with international law as reflected in the 1982 Law of the Sea Convention.”

Washington also called on Beijing to:

■ “cease its routine harassment” of claimant state vessels lawfully operating in their respective exclusive economic zones

■ “halt its disruption” of states’ sovereign rights to explore, exploit, conserve, and manage natural resources;

R omualdez made a statement after his remarks at the opening ceremony of the National Food Fair (Philippine Cuisine and Ingredients Show), spearheaded by the Department of Trade and Industry (DTI) in Mandaluyong City.

Dear friends, our mission in the House of Representatives is clear: to equip every Filipino entrepreneur with the necessary tools and conducive environment for success,” Romualdez said.

As the Speaker of the House, I pledge my commitment to this mission, confident that our collective efforts, our entrepreneurs’ resilience, and the Filipino people’s support will ensure its realization,” he said.

Let’s celebrate the invaluable contributions of our MSMEs and envisage a future where they stand at the helm of our nation’s prosperity,” he said.

T he Speaker said the House leg -

He pointed out that the House has passed several measures, and is considering the approval of other proposals meant to help small businesses, such as the Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE) Act and House Bill No. 1171, or the “One Town, One Product Act.”

T hese, he said, are aligned with the policy of the administration of President Ferdinand R. Marcos, Jr., noting that the Chief Executive has allocated P1.2 billion in the 2023 national budget to support programs for MSMEs.

T he GUIDE Act, of which Speaker Romualdez is one of the principal authors, obligates government financial institutions like the Land

O n the other hand, Speaker Romualdez said the “One Town, One Product” or OTOP bill aims to “assist MSMEs in developing innovative products, enhancing quality, design, packaging, compliance, marketability, production, and brand development.”

The OTOP program incorporates a broad range of products and skill-based services native to specific localities. It mirrors the rich fabric of our cultural heritage and entrepreneurial vigor,” he said.

He thanked the National Food Fair organizers for inviting him to the event as he also encouraged efforts to kindle the entrepreneurial spirit of Filipinos.

As we indulge in the diverse offerings of this event, let us acknowledge that it is the entrepreneurial spirit and resilience of these enterprises that truly enrich our nation,” Romualdez said.