Ms. Ronadale Zapata
In lauding Gawad
Pitak and Gawad Entrepreneur awardees
CITES SMEs, EXHORTS COOPERATIVES TO BE MORE
19 August 2005
The flourishing local cooperative industry and the role of the small and medium enterprise
(SMEs) in the country’s
economy were extolled by Vice President Noli ‘Kabayan’ De Castro at the 15th Gawad
Pitak and Gawad Entrepreneur
awarding ceremony at the Heroes’ Hall in Malacañang.
at lalo pang lumalaganap ang samahang kooperatiba sa ating bansa. Marami pa rin
ang naniniwala sa ating
sariling pagsisikap. Dito mismo sa ating sariling bakuran, narito ang
magkaroon ng masaganang buhay.
President De Castro encourage them to be more active and follow the example of the
awardees, the top earner in
the agri-based category, the Landan Multi-purpose Cooperative is now a
multimillionaire with P115
Million in assets and more than 1,100 members while the non-agri winner, St.
Cooperative, now has a P107 Million in assets and more than 3,000 members in
Lucena City. The Vice
President disclosed that records from the Cooperative Development Authority (CDA)
reveal that only around half
of the total 60,000 cooperatives are active. The same records also
reveal that most members have
no formal training in running
this need for training in running cooperatives, Vice-President De Castro
lauded the Landbank of the
Philippines (LBP) for its
capability-building program and technical support services. He particularly mentioned that
by offering these services,
LBP is helping them become
self-reliant economic units. By improving their management skills, they are also able to
increase their absorptive
As for the
SME’s, the Vice-President underscored their important contribution to the economy by
employing 69.9% of the total
labor force. He commended them for being the silent movers of our economy,
especially in the face of a
looming energy crisis.
times of hardship, the SMEs fittingly take advantage of the Filipinos unique
craftsmanship and ingenuity in
using locally available resources which are cost-effective.
this objective, Vice-President De Castro praised LBP’s support to the country’s
enterprises and microentrepreneurs through their Sulong program. He said that this
reflects LBP’s commitment to
boost the SME sector through timely financial assistance which even exceeded
their loan targets.
Ref no. VPMEDIA 05-109
Office of the Vice President (OVP)
Management Information Services
Division (MISD). All rights reserved.