Investing in the Filipino

GO NEGOSYO PILIPINAS

- JOEY CONCEPCION

Today, President Marcos Jr. leaves for his state visit to India. The world's fourth-largest economy has been an important trade partner of the Philippines for centuries. Our ties to India run deeper than current trade figures show, and the cultural ties go even deeper.

I think the Philippines and India have a lot in common. Their micro retail sector is alive and well, despite the many challenges to it by "organized" retail in the form of supermarkets and e-commerce stores. And very much like our own sari-sari stores, these small businesses have learned to adapt; sadly, like our own micro and small entrepreneurs, they face the challenge of professionalizing (i.e., they need mentorship in basic business practices) and access to capital. The wide-reaching influence of this vibrant sector of the economy, however, cannot be underestimated. So it was significant when, in 2018, the Government of India recognized our efforts here in the Philippines to grow the MSME sector.

I am still deeply honored to be one of only 133 people so far to have received the Padma Shri Award, one of India's highest civilian honors. Imagine the thrill of having then Indian President Ram Nath Kovind confer the awards at India's Presidential Palace, in the presence of Indian Prime Minister Narendra Modi. It was a very high-level gathering, held on India's Republic Day, with other awardees, Cabinet members, colleagues, dignitaries and, of course, my wife Marissa, in attendance.