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Thursday, 02 December 2010
Governor Wilhelmino M. Sy-Alvarado met the Bulacan businessmen during the "Usapang Business" held last November 11, 2010 at the Capitol Gymnasium, Malolos City, Bulacan.

This is the first time the Governor convened the MSMEs and the multi-national companies doing business in the province since he was elected and took office as governor.

He assured the more than 250 participating entrepreneurs of the provincial government’s support to the growth of businesses like what he did in the House of Representatives as Congressman for First District of Bulacan. The governor relentlessly pushed the passage of Magna Carta for MSMEs which was enacted into law during the time of his wife Congresswoman Marivic Sy-Alvarado.

“Businesses are for businessmen and the government should not interfere in their affair but rather sustain their growth by providing business-friendly environment which is included in my 7 Point Development Agenda”, told Governor Alvarado.

As main proponent of the said Magna Carta, Governor Alvarado fought in Congress the 10% banks’ mandatory fund allocation for MSME instead of just 8%.

Republic Act 9501 provides that all lending institutions as defined under the rules of Bangko Sentral ng Pilipinas, whether public or private, shall set aside at least 8% for micro and small enterprise and at least 2% for medium enterprises of their total loan portfolio based on their balance sheet and make available for MSMEs credit mandatory allocation of credit resources to small enterprises.

With this, the cooperatives and MSMEs can now avail of loan with lower interest rates, Alvarado assured.

He also said that the 99% of businesses in the Philippines are micro, small and medium enterprises where 93% of it belongs to micro and small. Sooner, commercial banks will relax and lower their interest rates for the benefit of MSMEs.

To prove his full support to businessmen, Gov. Alvarado gave his cellphone number to the participants where they could directly air their business concerns or problems.###

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