Faster action needed: Business sector supports SONA

CEBU, Philippines — Cebu’s business leaders welcomed President Ferdinand Marcos Jr.’s fifth State of the Nation Address (SONA), saying the administration has outlined reforms that could strengthen the country’s competitiveness.

They stressed that the final two years of the President’s term will be judged by the government’s ability to turn policy commitments into measurable economic outcomes.

While the Cebu Chamber of Commerce and Industry (CCCI), Mandaue Chamber of Commerce and Industry (MCCI),

and Talisay Chamber of Commerce and Industry (TCCI) cited governance reforms, tax measures, energy security, infrastructure, and investment promotion among the speech’s strongest economic messages, they urged faster implementation to restore investor confidence and sustain business growth.

“The economy needs execution,” said Carl Cabusas, president of the Talisay Chamber of Commerce and Industry.

Cabusas acknowledged the SONA presented positive policy directions, but said businesses are now looking for “clear, consistent action” that will strengthen the economy, improve investor confidence, and create an environment where enterprises can expand.

“Plans are important, but what the economy needs now is execution,” Cabusas said, adding that the private sector expects the administration to remain focused on economic priorities that deliver tangible results rather than commitments alone.

The MCCI described the President’s address as one of his most consequential speeches since taking office, particularly his decision to directly address the government’s flood control program and accountability issues.

MCCI president Barbara Gothong-Tan welcomed the administration’s proposed tax relief measures, including tax abatements for micro entrepreneurs, broader income tax exemptions for the middle class, reduced tax burdens for small businesses, lower tariffs on electric vehicles, and the proposed removal of system loss charges currently passed on to electricity consumers.

Gothong-Tan urged Congress to institutionalize these reforms before the end of the administration.

“We hope that Congress will take these directives seriously,” she said.

She noted, however, that the speech missed an opportunity to outline a stronger strategy for tourism, one of Cebu’s primary economic drivers.

Beyond the economic announcements, Gothong-Tan said the administration’s remaining two years should focus on rebuilding public confidence through decisive leadership, accountability, and reforms that directly address rising living costs, employment concerns, corruption, and access to quality public services.

“Economic growth must translate into better lives for ordinary families, and good governance remains non-negotiable,” she said.

For the Cebu Chamber of Commerce and Industry (CCCI), the President’s priorities generally aligned with reforms needed to improve the country’s long-term competitiveness.

CCCI welcomed the government’s continued anti-corruption campaign, saying greater transparency in public spending would strengthen investor confidence and create a more predictable business environment.

CCCI also cited the administration’s energy agenda as particularly significant for Cebu and the Visayas, where power reliability remains a critical concern for manufacturers, information technology firms, tourism establishments, and other industries.

CCCI president Regan Rex King pointed to the government’s plans to track nearly 10,000 megawatts of new power projects through 2028, expand energy storage capacity, extend the Malampaya gas project, accelerate renewable energy investments, and explore hydrogen and nuclear power development.

King also welcomed the proposed “Sariling Kuryente” Act, which seeks to encourage households to adopt rooftop solar and battery storage systems to improve energy resilience.

On the business front, he said the proposed tax relief for the middle class and the Bureau of Internal Revenue’s one-time tax abatement program for micro entrepreneurs could improve cash flow, encourage business formalization, and allow enterprises to reinvest in expansion and employment.

King, likewise cited the government’s continued pursuit of free trade agreements and the Green Lanes initiative, which has facilitated more than ?6 trillion in investments, as positive steps toward improving the country’s investment climate and expanding access to international markets.

Infrastructure reforms, including measures to accelerate right-of-way acquisition and update the National Building Code, were also viewed as important in reducing logistics costs and supporting economic corridors, particularly those being developed across Cebu.

CCCI further welcomed the administration’s emphasis on digital transformation and workforce development, citing efforts to train 1.8 million Filipinos in artificial intelligence skills as an important step toward preparing the country for emerging industries.

For Cebu, the CCCI said the national agenda complements regional priorities, including the development of the Metro Cebu Economic Hub, the West Cebu Economic Corridor, tourism and agri-industrial corridors, and environmental conservation initiatives.

Despite expressing broad support for the administration’s policy direction, the three chambers delivered a common message: economic reforms must now move beyond policy announcements.

With less than two years remaining in President Marcos Jr.’s term, Cebu’s business community said consistent implementation, regulatory certainty, and sustained public-private collaboration will determine whether the administration’s economic agenda translates into stronger investments, greater competitiveness, and more inclusive growth. — (FREEMAN)