Business groups in Cebu welcome Sona, press for results

Local

BUSINESS organizations in Cebu expressed cautious optimism over President Ferdinand Marcos Jr.'s fifth State of the Nation Address (Sona), saying the policy directions outlined by the administration must now be backed by decisive action to benefit businesses and the public.

The Talisay Chamber of Commerce and Industry (TCCI) said the President's agenda offered encouraging prospects but stressed that the country's economic progress will depend on how effectively those commitments are carried out.

In a statement, TCCI President Carl Cabusas said the private sector expects policies that promote stability, strengthen investor confidence, and create better conditions for enterprises to expand.

"The economy needs more than announcements," Cabusas said, emphasizing that tangible outcomes should define the administration's remaining years in office.

The Mandaue Chamber of Commerce and Industry (MCCI) viewed the President's address as a significant speech, particularly his firm stance on the investigation into flood control projects and his proposed fiscal reforms.

MCCI President Barbara Gothong-Tan welcomed measures aimed at easing the tax burden on micro-entrepreneurs, providing additional tax relief for middle-income earners, reducing taxes on small businesses, removing tariffs on electric vehicles, and eliminating system loss charges passed on to consumers.

She said these proposals could provide meaningful support to both businesses and households if enacted by Congress.

Gothong-Tan, however, pointed out that the President made no mention of initiatives for the tourism industry, a major contributor to Cebu's economy.

She also underscored the need for the administration to address issues affecting ordinary Filipinos, including inflation, employment, corruption, and access to government services.

The Cebu Chamber of Commerce and Industry (CCCI), meanwhile, welcomed the government's focus on improving governance, expanding energy capacity, strengthening infrastructure, and promoting innovation.

According to the chamber, efforts to increase power supply, accelerate infrastructure projects, simplify tax compliance, attract investments, and prepare workers for artificial intelligence-driven industries could enhance the country's competitiveness and support regional economic growth.

CCCI added that these national priorities complement Cebu's own development plans, particularly in infrastructure, tourism, manufacturing, and digital industries.

Despite recognizing the administration's policy agenda, the three business groups shared a common message: the President's final two years in office should be measured not by promises but by reforms that are fully implemented and capable of delivering lasting economic gains for businesses and Filipino families.(MyTVCebu)