SEN. GUINGONA PUSHES FOR POVERTY REDUCTION POLICY
EYES SOCIAL ENTREPRENEURSHIP AS STRATEGY FOR INCLUSIVE ECONOMIC GROWTH

Senator Teofisto "TG" Guingona III is pushing for the passage of a poverty reduction bill that aims to promote social entrepreneurship to empower the poor and open up new business opportunities promoting inclusive economic growth.

Sen. Guingona co-authored Senate Bill No. 2210 with Sen. Bam Aquino, otherwise known as "An Act Institutionalizing The Poverty Reduction Through Social Entrepreneurship (PRESENT) Program and Promoting Social Enterprises With The Poor As Primary Stakeholders."

"The proposed measure hopes to empower the poor Filipinos and lend them a greater hand to engage in economic and social development programs. We should create livelihood opportunities and encourage private investments," Sen. Guingona said.

Under SBN 2210, social enterprise is defined as a "social mission-driven organization that conducts economic activities providing goods and services directly related to their primary mission of improving the well-being of the poor, basic and marginalized sectors and their living environment."

Sen. Guingona said that opportunities for economic activities should continually rise in order for our economy to grow inclusively to benefit the poor citizens.

The bill proposes that the government must conduct studies on opportunities for poverty reduction and social entrepreneurship development in key economic subsectors and other inputs to undertake strategic planning for programs and projects.

Sen. Guingona supports the conduct of these studies to draw significant data for poverty alleviation.

"The government needs to invest in good data in order for policymakers to strategize reforms and advocacy in order for poor to benefit from the country's economic reforms and development. To invest in sound policy studies is parallel to the goals of the Philippine Development Plan (PDP) of the government which is sustained economic growth, generates mass employment, and reduces poverty," he said.

SBN 2210 also proposes that the government "shall promote industrialization and full employment based on sound agricultural development and agrarian reform, through industries that make full and efficient use of human and natural resources, and which are competitive in both domestic and foreign markets."