Biz groups cite Pascual’s work in championing MSMEs, economy

Several business groups expressed their gratitude and appreciation for the contributions of Trade Secretary Alfredo Pascual, who stepped down yesterday, Aug. 1, to return to the private sector.

“The [Department of Trade and Industry, or DTI] was run competently. There are very competent undersecretaries,” Philippine Chamber of Commerce and Industry chair George Barcelon said in a phone interview with the Inquirer.

He highlighted Pascual’s work in helping the development of micro, small and medium enterprises (MSMEs).

The American Chamber of Commerce likewise commended Pascual’s focus on MSMEs.

“We thank him for his service to promote economic growth in the country, and particularly his focus on supporting micro, small and medium enterprises. He will be missed, and we wish him all the best in his next chapter,” it said in a statement.

It said Pascual “has been a strong partner to the American Chamber of Commerce through our work together to promote trade and investments in the Philippines.”

The German-Philippine Chamber of Commerce and Industry (GPCCI) also said it was extending its “heartfelt gratitude” to Pascual, citing his “exemplary leadership and invaluable contributions in accelerating the Philippine economy.

“His tenure as trade secretary has been marked by numerous significant milestones, each underscoring his commitment to fostering robust economic growth and strengthening international partnerships,” the GPCCI said in a statement.

Germany emerged as the top source of foreign investments for the Philippines under Pascual’s term in 2023, with the capital allocated for these business ventures reaching P393.28 billion.

“This achievement not only signifies the growing confidence of German investors in the Philippine market but also highlights Secretary Pascual’s effective economic strategies,” the group said.

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Philippine Retailers Association president Roberto Claudio said the incoming Trade chief would have big shoes to fill.

“We wish [Pascual] well. He has done so much for the DTI in the previous years so it will be a challenge for the one who will come in,” Caludio told reporters in a chance interview in Makati.

For Barcelon, however, Pascual left DTI well-managed such that “[we] are confident that whoever will be appointed would be qualified to run the DTI.”

In an interview with reporters, Pascual said: “I am very thankful to the president that he gave me the opportunity to at least spend over two years in public service. I am very happy with the collective accomplishments that we were able to achieve.” INQ