MANILA -- President Ferdinand R. Marcos Jr. on Friday emphasized the need to narrow the digital divide to allow disadvantaged segments of the economies in the Asia-Pacific region to participate in the digital economy, particularly micro, small and medium enterprises (MSMEs).

In his intervention during the 29th APEC Economic Leaders’ Meeting (AELM) Retreat Session, President Marcos said the revitalization of MSMEs is one of the top priorities of his administration, considering their role as catalysts for economic regeneration, job creation and poverty reduction.

“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.

The digital economy promises MSMEs increased resilience and productivity, but with the right tools and policies in place, the Philippine leader said, pointing to 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,” the President pointed out.

According to the chief executive, APEC economies recognize that supporting
MSMEs’ digitalization efforts post-COVID-19 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 as well as advance digital adoption in various segments of MSMEs.

The President is on his third day in Thailand where he is attending the 29th AELM. (PND)