By Jan Albert K. Araña
CAGAYAN DE ORO CITY (PIA) — Raymundo Talimio, Jr., former president of the Cagayan de Oro Chamber of Commerce and Industry (Oro Chamber), expressed support for the recent cabinet shakeup of President Ferdinand Marcos Jr., urging renewed attention to key economic issues.
“We are really politically inclined, we think of political motives and moves. But from a business perspective, this is a welcome move,” he said.
Talimio, also a member of the Regional Development Council (RDC) Economic Development Committee, noted that economic performance is closely tied to government efficiency. He cited food security, insufficient support for micro, small, and medium enterprises (MSMEs), delayed infrastructure projects, the budget deficit, and declining foreign direct investments (FDIs) as areas needing attention.
“With the change, for example, in the Cabinet and those in the key departments, the Department of Finance, the DTI, the DA, there will probably be some improvements looking forward,” he said.
Talimio acknowledged food security efforts in Visayas and Mindanao but said the P20 per kilo rice target is not feasible.
“In reality, it’s really very difficult to come up with a P20 rice, knowing that the inputs, even all the, let’s say, the rice that we produce, it really cannot reach the P20.”
Despite this, Talimio commended the efforts the President is making to fulfill his promise of giving affordable rice to Filipinos, such as providing a subsidy to the farmers.
He encouraged the government to shift from subsidies to investments in agriculture.
“We have to increase our production, lower the input prices, and of course, give full support to our farmers to really increase their productivity,” he said.
Talimio raised concerns about limited support for MSMEs, which comprise 99.59 percent of Philippine businesses. Despite the Magna Carta for MSMEs mandating banks to allocate 10 percent of their loan portfolio to MSMEs, he said only just over four percent was disbursed in 2024.
“And as we speak, we have over 100,000 applicants here in Region 10 under DTI’s Small Business Corporation that have not been catered to because of the shortage of funds,” he said.
He also urged the government to empower MSMEs to access export markets by strengthening the export industry.
At a recent RDC meeting with President Marcos in Cagayan de Oro, Talimio proposed the rehabilitation of the National Steel Corporation and the Agus-Pulangi Hydropower Complex. The proposal led to a follow-up meeting in Manila on May 7 with Philippine Economic Zone Authority (PEZA) Director General Teodoro Panga and Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go.
A resolution was submitted to Go, with plans for a follow-up meeting in early June. “We hope that we will be able to sit down, that creation of the TWG will be realized, and of course, do our proposed plans for the rehabilitation,” he said.
Talimio said the initiatives could support the creation of a Special Economic Zone in northern Mindanao, backed by power from the Agus-Pulangi complex. He noted that both projects are aimed at improving economic conditions and increasing foreign investment.
“Hopefully, this will really be continued, and we hope that President Marcos will be able to make this happen in his administration,” he added. (JAKA/PIA-10)
