Press statement of Senator Loren Legarda

ON MSMEs

To invigorate our economy in the face of the global economic recession, the government must allocate a substantial portion of its stimulus package to boost micro-small-and-medium enterprises (MSMEs) which, according to the Department of Trade and Industry, has created 70 percent of total jobs as of 2006.

DTI said that 780,469 or 99.7 percent of business operating in our country as of 2006 were MSMEs. These are enterprises with capitalization of P3 million for micro, more than P3 million to P15 million for small, and more than P15 million to P100 million for medium. They comprise 60 percent of all exporters and take in 25 percent of total export revenues.

With the export markets dwindling because of the global financial downturn, these MSMEs can be helped to turn their production toward serving the local market, thus reducing our dependence on imports. Local production of consumer items that we normally export would save us precious dollar exchange and reduce our foreign debt.

With almost a hundred million people, the Philippines is a huge market that can be tapped to expand our Filipino businesses, increase incomes and boost government revenues. They will also absorb the unemployed.

MORE ON CORY

Cory Aquino was not only an icon of democracy, she was a heroine. After helping restore democracy and serving as president for six challenging years, she did not retire but involved herself in a continuing struggle against corruption, in the cause for integrity in government service and in the defense of civil liberties.

I think that her self-sacrifice even after retiring from the presidency with her honor and integrity intact, in which she continued to lend her services and prestige to the side of the people even while sick, had endeared her more to her people. Our people will miss her as they continue to struggle for decency, honesty and dedication in public service and for a better life for future generations.

She remained ever humble as she prepared to join the Lord.

ON ENVIRONMENT

The incident in Tondo last July 26 when a heavy downpour caused the Estero de Maypajo to overflow its banks and flood surrounding streets and residential areas underscore the urgent need for cleaning up and dredging the waterways, especially in urban areas. In the rural areas, the rainy season, brought on early by climate change, has wrought more havoc through landslides and floods causing many casualties and damage to property.

The local governments should take the initiative in taking measures to reduce risks to human lives and properties as a result of natural calamities that are getting worse and more frequent because of climate change. The national government should likewise provide more support not only in providing relief and rehabilitation for disaster victims, but to help local governments in undertaking preventive measures to reduce disaster risks.

This is a global problem, especially in the developing world, that I, as United Nations champion for disaster risk reduction in Asia-Pacific, has observed first-hand. We should also enlist international aid as well as cooperate with international agencies in risk reduction and climate change adaptation.