Cebu biz leaders bullish on recovery plan

July 30, 2020

CEBU CITY – Business leaders here have expressed their optimism on the economic recovery plans announced by President Duterte in his fifth State-of-the-Nation Address.

Steven Yu, Mandaue Chamber of Commerce and Industry president, said the issues concerning businesses during this crisis had widely been brought up during the SoNA. 

“The issues of the business community especially on regulatory reliefs, loan reprieve, stimulus, rent waivers, etc. are given priority focus, and that is exactly what we need. The President really connects to his constituents,” Yu said. 

He said the SoNA “was well received” by the business community, especially the micro, small and medium enterprises.

“He knows our biggest pain and concern,” he added. 

Cebu Chamber of Commerce and Industry president Felix Taguiam said Duterte touched all the vital matters of his administration’s thrust for economic recovery.

In his SoNA, the Chief Executive said the government “will intensify its efforts to help businesses,” especially the MSMEs by providing responsive government aid, capitalization, and business operations support as they adapt to the next normal.

He also urged commercial lessors to come up with amenable arrangements with their tenants and give grace periods or allow deferment of payments, especially for MSMEs, that were forced to close down during the quarantine period.

“We pump-primed the recovery and rehabilitation of MSMEs,” he added.