Ms. Ronadale Zapata
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In lauding Gawad Pitak and Gawad Entrepreneur awardees
KABAYAN CITES SMEs, EXHORTS COOPERATIVES TO BE MORE ACTIVE
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.

Natutuwa ako 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 pagkakataong
umunlad at magkaroon ng masaganang buhay.

Vice 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. Jude Multi-purpose 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 cooperatives.

In addressing 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 capacity.

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.

During these times of hardship, the SMEs fittingly take advantage of the Filipinos unique craftsmanship and ingenuity in using locally available resources which are cost-effective.

In achieving this objective, Vice-President De Castro praised LBP’s support to the country’s small and
medium 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