Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go has called for increased efforts from foreign trade desks within Philippine embassies to promote homegrown Philippine franchise brands abroad.
At the Franchise Asia Philippines 2024 in Pasay City Monday, Go said this will support the goal of the Philippine Franchise Association (PFA) to bring more Filipino brands to the international market.
Go said the country’s foreign trade desks, operating under the Department of Trade and Industry (DTI) in major economies, are crucial for showcasing Philippine products and services globally.
“One of their primary roles is really to promote Philippine products, services to the country. So that could be selling our export products, our Filipino products to the host country, as well as trying to promote the franchising of Filipino brands in their host country,” he said.
Go also acknowledged that Filipino franchisees have faced challenges, particularly the financial barriers to participating in international trade shows.
In an interview, PFA director Sherill Quintana said the industry needs support from the government, especially in terms of subsidizing some expenses of participants in international trade shows.
“But we’re very excited on how everything is unfolding, especially that the government support that we’ve been clamoring for several years, hopefully we’re getting it now with the attention especially of DTI Secretary Cris Roque adopting franchising in her five-point agenda. We would like to optimize that opportunity for our kababayan, especially the OFWs (overseas Filipino workers) to start their own business,” Quintana said.
Meanwhile, Go said the franchising industry can help in the growth of micro, small and medium enterprises (MSMEs) development in the country, which is one of the priorities of the Marcos administration.
“I think it’s a fantastic opportunity for our people who want to invest their hard-earned money. Going into business is a risk, right? Investing has a risk. Franchising can really help mitigate or reduce, can help reduce that risk,” he said.
“Of course, you have to find a solid brand, a solid franchisor that has a long track record of success, a good track record of success and good reputation.And when you undertake that, it helps really reduce the risk involved in making entrepreneurial investments.” (PNA)
