DTI chief highlights the strength of expanding networks for local businesses

During the Business Network International (BNI) Philippine National Conference on 08 July 2023, Department of Trade and Industry (DTI) Secretary Fred Pascual highlighted the significance of expanding network opportunities as an avenue for business growth and development.

Pascual emphasized that developing networks and linkages are vital to integrate local businesses into the global value chain.

The BNI Philippine National Conference is the largest gathering of business owners and collaborators in the country, which aims to open opportunities for entrepreneurs who faced setbacks during the COVID-19 pandemic. This event also aims to connect entrepreneurs from different industries in gaining valuable insights and strategies from experts in the field.

In his speech, Secretary Pascual said, “Networking links businesses with potential clients, customers, partners, suppliers, and investors. Similarly, collaboration fosters innovation by bringing together diverse perspectives, experiences, and skill sets.”

The BNI Philippines is a business and professional networking organization with around 304,000 members throughout 77 countries and from over 300 types of professions.

Currently, BNI Philippines is composed of more than 1,300 Filipino and overseas business owners, creating opportunities for entrepreneurs to meet, connect and collaborate online.

The company highlights the importance of cooperation among local business owners to synergize, become stronger to face external market forces, and build alliances beyond the Philippines’ borders.

During his speech, Secretary Pascual also highlighted the success of the three-week Europe Investment Roadshow where the Philippine delegation held roundtable discussions and business-to-business meetings with European investors and business people in France, the United Kingdom, Belgium, The Netherlands, and Germany.

He stressed that this roadshow served as a mechanism to showcase the potential and attractiveness of the Philippines as an investment destination in Southeast Asia given the country’s strategic location; large population and growing middle class; and young, dynamic, and skilled workforce.

Further, the DTI Chief encouraged the BNI members to explore the possibility of tapping into global exports. He cited that the Philippine Export Development Plan 2023-2028 (PEDP) and an advocacy campaign for the Regional Comprehensive Economic Partnership (RCEP) and other preferential trade agreements will provide firms with opportunities for boosting exports to foreign markets.

In closing, Secretary Pascual remarked, “In today’s ever-evolving business landscape, one truth remains resolute: success favors those who dare to transcend conventional norms.”