MANILA: Business groups in Iloilo are commending President Ferdinand R. Marcos Jr. for emphasizing the importance of economic growth and business regulations, and highlighting several key initiatives and achievements that are significant in the economic development of the country during his third State of the Nation Address (SONA) on Monday.
‘As advocates for economic development, we strongly support measures that foster a robust and dynamic business environment in the Philippines,’ the Philippine Chamber of Commerce and Industry (PCCI) Iloilo chapter said in a statement through its president Fulbert Woo.
‘We are particularly encouraged by the President’s commitment to infrastructure development, such as the mega-bridges, including the Panay-Guimaras-Negros Bridge, which aims to enhance connectivity and support economic growth in our region. Such projects are vital in improving regional integration and opening up new opportunities for businesses and communities.’
PCCI-Iloilo was also thankful of the effort
s of President Marcos to push for the fast-tracking and completion of key energy interconnection projects like the Mindanao-Visayas and Panay-Negros-Cebu links to ensure a reliable power supply, as ‘stable and reliable energy is fundamental to sustained economic growth and development.’
The business group said the President’s report on the increased employment rate to 95.7 percent is ‘a positive indicator of economic recovery and resilience.’
‘The strides made in digital payments, with 42 percent of retail transactions being digital in 2022, and the launch of the eGov PH super app, which integrates key government services into a single platform, are commendable. These efforts enhance efficiency, accessibility, and transparency, benefiting both businesses and citizens by streamlining processes and reducing bureaucratic hurdles,’ it said.
It also said it backs President Marcos’ decision to ban Philippine Offshore Gaming Operators (POGOs), and supports measures to eliminate activities that pose social and eco
nomic risks.
‘We believe that a thriving economy is crucial for the prosperity of our nation, and it is imperative that businesses operate within the framework of the law. This includes the stringent upholding of labor rights, ensuring fair treatment, and safeguarding the well-being of all workers.’
Meanwhile, Terence Uygongco, president of the Iloilo Local Economic Development (ILED) Foundation, said they are looking forward to collaborating with the government to achieve the shared vision of a prosperous and progressive Philippines.
In a media interview, he said the expansion of the Build Better More program is a significant step toward enhancing connectivity and boosting economic activity not only in Panay, but across the country.
‘There are mentions of proposed projects, including new roads, bridges, and rehabilitation of airports, that are expected to facilitate smoother transportation and logistics, which will primarily benefit businesses and communities. These will hopefully bring down our cost to
do business, which will improve our capability to share the profits with our employees and customers,’ he said.
Uygongco said improved interconnectivity will ensure a stable power supply and, hopefully, will lower prices at the Wholesale Electricity Spot Market.
He said ILED is also supportive of the public-private partnership initiative (PPP), as they have been pushing the city and province of Iloilo to have more projects under the scheme.
‘We hope infrastructure facilities like power, airport, and water will be primarily delegated to PPP,’ he said.
He also favored the ban on POGOs, which he said would free up space for legitimate business process outsourcing firms that can help in the employment sector.
He said the opening of the Jalaur River Multipurpose Project is a big welcome, especially since Iloilo was once the food granary of the country.
‘The commitment of the president to improve the agricultural sector through modernization and support to farmers is aligned with our goals, especially here in
Iloilo. With this opening of the dam and the initiative of the government, which has given agriculture importance, this will help introduce technologies and financial support to farmers which can enhance productivity and ensure food security not only in Panay and Visayas, but the whole country,’ he said. (PNA)
Source: Philippines News Agency
