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RA 9501: Magna Carta for Micro, Small and Medium Enterprises

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This primer provides a quick reference on the “Magna Carta for Micro, Small and Medium Enterprises (MSMEs)”, a landmark legislation that defines the current national policy to promote, support, strengthen, and encourage the growth and development of MSMEs.

Enacted by the Philippine Congress in 1991 as RA 6977, amended by Republic Act 8289 in 1997, and further amended by RA 9501 in 2008, the law is geared towards the development of the Filipino entrepreneurial spirit by providing a business environment conducive for MSMEs.

The full texts of RA 6977, RA 8289, and RA 9501 and its IRR including the revised rules and regulations governing the mandatory allocation of credit resources provide ready reference for a complete compilation of laws on the Magna Carta for MSMEs.

 

 

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