Iloilo Business Leaders Laud President Marcos’ Economic Initiatives in Recent SONA

ILOILO CITY — Business leaders in Iloilo have expressed their strong support for President Ferdinand R. Marcos Jr.’s focus on economic growth and regulatory improvements highlighted in his third State of the Nation Address (SONA). These enhancements are seen as pivotal for the national and regional economic advancement, drawing commendation from key local economic groups.

According to Philippines News Agency, President Marcos’ commitment to major infrastructure projects like the Panay-Guimaras-Negros Bridge is critical for boosting connectivity and economic development in the region. PCCI-Iloilo President Fulbert Woo praised the initiative for its potential to improve regional integration and generate new business opportunities. The group also welcomed the President’s efforts to expedite crucial energy projects, such as the Mindanao-Visayas and Panay-Negros-Cebu interconnections, essential for ensuring stable and reliable power supplies.

PCCI-Iloilo acknowledged the positive impact of the national employment rate reaching 95.7 percent and supported the digitalization strides, including the adoption of digital payments and the launch of the eGov PH super app, which consolidates key government services. These measures, they noted, are enhancing business efficiency and transparency.

Furthermore, the business group endorsed the President’s decision to ban Philippine Offshore Gaming Operators (POGOs), aligning with broader measures to mitigate social and economic risks, and underscored the importance of strict compliance with labor laws to protect worker welfare.

Meanwhile, Terence Uygongco, president of the Iloilo Local Economic Development (ILED) Foundation, highlighted ongoing collaborations with the government to foster a thriving, progressive Philippines. He emphasized the significance of the Build Better More program and its role in advancing national connectivity, which he believes will reduce business costs and enhance profitability for local enterprises.

Uygongco also supported the public-private partnership (PPP) initiatives, pushing for more projects under this scheme in Iloilo City and province, especially in critical infrastructure sectors such as power, airport, and water services. He echoed the benefits of the recent ban on POGOs, which he sees as an opportunity to prioritize legitimate business process outsourcing firms that contribute positively to the employment sector.

Additionally, Uygongco welcomed the opening of the Jalaur River Multipurpose Project, which is expected to bolster agricultural productivity and food security in Iloilo, once known as the food granary of the country. He praised the government’s commitment to agricultural modernization and support, which is aligned with ILED’s goals to enhance local farming capabilities and ensure nationwide food security.