Legarda files Pangkabuhayan Act to aid MSMEs

Senator Loren Legarda is advocating for the "Pangkabuhayan Act" to remove barriers for micro, small, and medium enterprises (MSMEs) in accessing government aid and technology.

The proposed legislation seeks to simplify livelihood and entrepreneurship programs through the creation of Sustainable Livelihood and Entrepreneurial Development Centers (SLEDs) in rural municipalities.

These centers will function as one-stop shops, providing essential services such as training, business registration, technical assistance, and access to financing, especially for MSMEs in disadvantaged areas.

Legarda emphasized that the bill aims to reduce red tape and encourage innovation, thereby enabling Filipinos to establish, sustain, and expand their businesses.

The Pangkabuhayan Act is intended to work in tandem with the Philippine Innovation Act by fostering digital transformation and enhancing the competitiveness of MSMEs.

Senator Legarda highlighted the potential of MSMEs to become key contributors to inclusive economic growth and the development of the creative industry.