SEN. Loren Legarda underscored the importance of supporting micro, small and medium-sized enterprises through legislation and addressing industry-specific challenges.During The Manila Times MSME Forum, Legarda announced the passage of Republic Act 11960 or the One Town, One Product Philippines Act that she authored.The OTOP Philippine Act provides assistance to MSMEs, particularly in rural communities, to develop and improve their products.
RA 10644 establishes business centers in provinces, cities and municipalities to promote ease of doing business and provide access to services for MSMEs. RA 11293 creates the National Innovation Council, which encourages entrepreneurship.Aside from these laws, government agencies such as the Department of Labor and Employment and the Department of Trade and Industry have programs that expand MSMEs market reach and boost job creation.