Declaration of Policy.
Section 2
SEC. 2. Declaration of Policy. - It is hereby declared the policy of the State to develop a self-reliant and independent national economy effectively controlled by Filipinos through policies and programs that drive inclusive local economic activity and boost national economic growth, The State also recognizes the indispensable role of the private sector and private enterprises and the necessity to provide incentives to foster advancement among businesses, especially local micro, small and medium enterprises (MSMEs). Towards this end, the State shall equip MSMEs to progressively improve product and service quality and to utilize new technologies to pursue innovation and diversification. The State shall likewise promote the preferential use of Filipino labor, domestic materials, and locally produced goods, and adopt measures to make them competitive. The State shall further provide adequate and effective support services for MSMEs to enable communities to determine, develop, and promote products and services that are rooted in their culture, community resources, creativity, connection, and competitive advantage.