News Release

President Duterte commends ABAC for efforts in harnessing private sector feedback, inputs

President Rodrigo Duterte on Monday, November 13, commended the Association of South East Asian Nations – Business Advisory Council (ABAC) and its members for its efforts in harnessing private sector feedback and inputs.

“The ASEAN leaders recognize the role in pushing forward ASEAN Economic Community Agenda for a freer trade relations and more intra-Asian investments,” President Duterte remarked during the ASEAN leaders’ interface with ABAC.

President Duterte also expressed his support to ABAC’s strategy of strengthening and integrating one cohesive approach in empowering micro, small and medium industries (MSMES).

“I believe that mentorship, money, and markets are pre-requisites in ensuring the success and sustainability of any business enterprise,” he said.

The Chief Executive added that the Philippine government is eager to work and partner with the council to prepare the MSMEs as a bridge to open pathways toward global value chains.

“I likewise support the three interlocking elements that bind your Ms together, which are inclusive business, hard and soft connectivity, infrastructure and a conducive policy, environment for MSME,” the President said.

President Duterte also noted ABAC’s effort to forge alliances with big businesses, both at the national and across ASEAN, to champion inclusive business.

“MSMEs are considered game changers as they can offer more options in the market and their presence also eliminates monopoly of trade and fosters healthy competition in the industry,” he said, adding that the global leaders stand in close partnership with the council in reenergizing the ASEAN Economic Community.

“We urge the ASEAN secretariats and all the consultative working committees under the economic pillar of ASEAN to work closely with the ASEAN-BAC and its partners to fast track ASC reforms, especially the so-called low-hanging fruits,” President Duterte said.

“We commit our deep resolve in putting our collective leadership behind your strategic action agenda,” he concluded. PND