ACG Chief Tax Advisor, Mon Abrea, shares insights into the pivotal role of Micro, Small, and Medium Enterprises (MSMEs) in the Philippines in his recent article published via the Philippine Daily Inquirer. Constituting 99.58 percent of all businesses, MSMEs contribute significantly to employment and exports, yet they grapple with considerable challenges, particularly corruption.
“Corruption is not just about the big plunder cases that tend to get into the news spotlight. Corruption can also be about the bribes asked for by public officers or payments to fixers in order to avoid red tape,” says Abrea.
He asserts that combating corruption is imperative for supporting MSMEs and fostering economic growth.
In his article, Abrea underscored the importance of the United Nations Convention Against Corruption (UNCAC), a binding international initiative involving 189 countries. He emphasizes the need for effective UNCAC implementation in the Philippines, addressing challenges such as improving the public procurement system and enhancing transparency. To do so, Abrea introduced the “3P Framework of Governance,” emphasizing policies, politics, and people in the fight against corruption.
Under the 3P Framework, Abrea outlined policies involving laws and regulations, politics focusing on governance and accountability, and the role of people in demanding accountability and avoiding unwitting contributions to corruption.
To learn more about this 3P Framework of Governance, read full article here: https://acg.ph/fight-corruption-help-msmes/.
You may also avail Abrea’s latest book, “Reimagining the World Without Corruption” though Shopee: https://tinyurl.com/CSRPH-NewestBook.