The Philippine Business Advisory Council (BAC) for the Association of Southeast Asian Nations (Asean) said it intends to establish a center for micro, small and medium enterprise (MSME) development in the region.
In a statement on Monday, Asean BAC chair Joey Concepcion said the Asean Center for MSME Development will be one of the legacy projects of the Philippines’ chairmanship of Asean in 2026.
Concepcion said he and Trade Undersecretary Allan Gepty recently discussed how the Department of Trade and Industry (DTI) could support and guide the move to establish the center as a regional government and private sector initiative.
The Asean-BAC was launched in April 2003 with a mandate to provide private sector feedback and guide regional efforts toward economic integration. The council was also tasked to identify priority areas for consideration by Asean leaders.
Concepcion said the Asean Center for MSME Development will serve as a physical center for entrepreneurship mentors, a hub for capacity-building, and a way to help expand the network of MSMEs while increasing their knowledge of best practices.
The center is expected to heighten Asean awareness among ordinary Filipinos, especially since the country is set to host the Asean Summit in 2026.
Proponents of the initiative have yet to come up with a final conceptual framework that their respective governments, in consultation with the private sector, will have to approve, Concepcion said.
Once approved, the concept will secure a declaration from Asean leaders.
“The cooperation between government and private sector in MSME development puts the country in an ideal position to host the center,” Concepcion said.
“If realized, the center will be the Philippines’ second such regional center for excellence, the other being the Asean Center for Biodiversity,” he added.
As chairman of Asean 2026, the timing is seen perfect for the Philippines to launch the MSME center which aligns with the DTI’s priority agenda.
There are 70 million MSMEs in Asean, accounting for 97.2 percent to 99.9 percent of the total establishments in the region.
MSMEs contribute 85 percent of employment in the region, as well as 44 percent of the regional gross domestic product (GDP) and 18 percent of national exports.
The Philippine Statistics Authority’s list of establishments showed there were 1.24 million MSMEs, or 99.6 percent of total enterprises in 2023.
These MSMEs have generated 6,351,466 jobs or 66.97 percent of the country’s total employment, the DTI said.
