<\/a>\u201cThe answer to that is jobs, jobs, jobs,\u201d stated former Senator and pound-for-pound boxing icon Emmanuel \u201cManny\u201d D. Pacquiao, who is contesting for a Senate seat on May 12, in a conversation with BusinessWorld<\/i> in Filipino. \u201cI will advocate for substantial investments in public infrastructure particularly in rural regions and support initiatives for micro, small, and medium enterprises (MSMEs).\u201d<\/p>\n\u201cPeople require sustainable livelihoods, not just handouts,\u201d he mentioned in a Viber message.<\/p>\n
The administration of President Ferdinand R. Marcos, Jr. has fallen short of growth expectations over the last two years, with economic output increasing by 5.5% in 2023 \u2014 below the 6-7% target \u2014 and 5.6% in 2024, failing to meet the 6-6.5% objective.<\/p>\n
Mr. Marcos approaches the latter half of his term this year, three years after promising to rejuvenate an economy impacted by the COVID-19 pandemic, weakened consumption, and diminished agricultural output.<\/span><\/p>\nThe Philippines is also urged to enhance intra-regional trade as U.S. President Donald J. Trump’s tariffs progressively hinder a global economy that has for years thrived on predictable free trade.<\/span><\/p>\nBusinessWorld<\/i> sought insight from the top 18 senatorial candidates in mid-April regarding critical economic matters, but only Mr. Pacquiao, Las Pi\u00f1as Rep. Camille Villar-Genuino, former Senator Panfilo M. Lacson, and Party-list Rep. Erwin T. Tulfo responded.<\/p>\n
\u201cOne of my chief priorities will be to foster inclusive economic development by empowering MSMEs,\u201d Mr. Lacson expressed in a Viber message. \u201cThey are facing hardships due to restricted access to capital, bureaucratic obstacles, and rising expenses.\u201d<\/p>\n
MSMEs constitute over 99% of all enterprises in the Philippines, account for 67% of the nation\u2019s total employment, and contribute approximately 40% to the gross domestic product (GDP), as stated by the United Nations Development Program.<\/span><\/p>\nMr. Lacson indicated he would advocate for provisions that would streamline business regulations, offer tax benefits, and facilitate access to MSME loans.<\/span><\/p>\nAt the same time, Ms. Villar stated she would introduce legislation aimed at enhancing the agriculture, manufacturing, and service sectors, while reforms in business regulations and good governance would attract investments.<\/span><\/p>\n\u201cThe nation must concentrate on three vital areas \u2014 boosting competition and global integration, investing in skills development, and fortifying institutions,\u201d she added.<\/p>\n
Mr. Tulfo mentioned he would propose initiatives to expand irrigation systems, support the establishment of post-harvest facilities, and provide assistance to local producers, especially in times of crisis.<\/span><\/p>\n\u201cWe will advocate for the effective enforcement of the Ease of Doing Business law in the country to invite more investments that will create additional jobs for Filipinos,\u201d he noted.<\/p>\n
NO NEW TAXES
\n<\/b>All four candidates were hesitant to increase or implement new taxes, choosing to focus on enhancing tax collection instead.<\/p>\n
\u201cThe government should primarily address inefficiencies in tax administration,\u201d asserted Mr. Lacson, who led the campaign against pork barrel funds during his senatorial term before they were deemed illegal by the Supreme Court. He promised to rigorously oversee the government budget if elected senator.<\/span><\/p>\nFinance Secretary Ralph G. Recto mentioned last week that the government was not planning to impose new taxes after achieving its revenue targets, with the government amassing P931.5 billion in revenue during the first quarter.<\/p>\n
Mr. Tulfo stated he intends to monitor the implementation of the Ease of Paying Taxes Law, ensuring its proper enforcement to improve revenue collection without introducing new taxes.<\/span><\/p>\n\u201cI am for the diligent implementation of taxes and honest tax collection, and pursuing those who evade taxes,\u201d Ms. Villar asserted.<\/span><\/p>\n\u201cI do not wish to place an additional burden on the impoverished,\u201d Mr. Pacquiao remarked. \u201cBefore contemplating new taxes, we must first eliminate corruption and improve tax collection efficiency.\u201d<\/p>\n
The senatorial candidates also committed to introducing measures aimed at protecting local industries and promoting industry diversification in response to U.S. President Donald J. Trump\u2019s sweeping reciprocal tariffs.<\/p>\n
They indicated that the Philippines should nurture its domestic industries to shield itself from global economic instabilities.<\/p>\n
\u201cWe truly need to bolster domestic production and trade by supporting our local producers and MSMEs,\u201d Mr. Tulfo remarked.<\/p>\n
He mentioned he would convene relevant agencies such as the Trade and Agriculture departments to formulate a strategy that would protect exporters from the impending global trade conflict.<\/p>\n
\u201cIf we establish reliable commerce within the country, we can replicate that by diversifying our exports to other nations,\u201d he continued.<\/p>\n
Mr. Pacquiao emphasized the necessity of investing in sectors where the Philippines excels, such as agriculture, digital services, and creative industries.<\/p>\n
\u201cI will advocate for trade diversification and seek improved trade agreements with the Association of Southeast Asian Nations (ASEAN) and Asia-Pacific countries to reduce dependency on U.S.-China markets,\u201d he added.<\/p>\n
Mr. Lacson advised that the government should prioritize the passage of a bill that diversifies the nation\u2019s trade and investment partners. \u201cTrade opportunities from underutilized regions such as Southeast Asia, Africa, and Europe should be encouraged through simplified export processes, lower tariffs, and trade agreements,\u201d he added.<\/p>\n
\u201cPrior to permitting measures that would liberalize trade restrictions, we must confirm that our own products are globally competitive,\u201d noted Mr. Lacson.<\/p>\n
Ms. Villar remarked that the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE Act) would \u201cenhance our capability to attract investors intending to expand or relocate to the Philippines, considering the relatively lower tariffs imposed on our exports to the United States.\u201d<\/p>\n
Both Mr. Pacquiao and Mr. Lacson highlighted the importance of promoting renewable energy sources, such as solar, wind, and nuclear power.<\/p>\n
The boxing champion suggested that the nation should seriously contemplate establishing nuclear power plants to meet industrial and household power requirements.<\/p>\n
Fiber optic technology could revolutionize energy transmission by providing faster, more efficient, and stable energy distribution across the region, he further noted.<\/p>\n
\u201cUnlike traditional copper cabling, fiber optics minimizes energy loss, lowers maintenance costs, and enhances overall power infrastructure resilience,\u201d he stated, adding that the country should upgrade its fiber optic networks nationwide to ensure improved connectivity.<\/p>\n
ELECTRICITY PRICES
\n<\/b>Mr. Lacson advocated for enhancing Filipino farmers’ access to alternative energy sources, while
\n“`<\/p>\n
tax benefits ought to be granted to renewable energy production firms.<\/p>\n
\u201cLegislators can additionally utilize their supervisory authority to examine whether current statutes regarding electric cooperatives are being enforced effectively,\u201d he mentioned. \u201cThe Senate ought to advocate for an examination of all additional fees on electricity bills, including contract expenses, universal charges, and system losses.\u201d<\/p>\n
Mr. Lacson also recommends imposing a limit on system losses, which are transferred to consumers, to reduce electricity costs.<\/p>\n
\u201cAs consumers suffer the consequences, power generation companies often become negligent in delivering services. Consequently, we are essentially rewarding them for failing to fulfill their responsibilities,\u201d he remarked.<\/p>\n
Mr. Lacson stated that amendments to the Electric Power Industry Reform Act should encompass openness in power supply agreements between distribution and generation firms to avert detrimental pass-through costs to the public.<\/p>\n
Ms. Villar intends to lower the \u201cexcessively inflated 15% weighted average cost of capital,\u201d which she claims increases electricity expenses.<\/p>\n
She also aims to reevaluate all \u201cunjust and deceitful contracts, energy shortages, and postponed transmission projects that directly impact consumers.\u201d<\/p>\n
In the meantime, Mr. Pacquiao and Mr. Tulfo intend to revise the Rice Tariffication law.<\/p>\n
\u201cPromote local production,\u201d Mr. Pacquiao stated. \u201cI will advocate for a review of the Rice Tariffication law and provide more subsidies to our rice farmers.\u201d<\/p>\n
Mr. Tulfo mentioned that reinstating the authority of the National Food Authority to buy and sell rice \u201cwill open avenues for lower prices and competition,\u201d as traders and intermediaries continue to manipulate farmgate and retail rates.<\/p>\n
Ms. Villar, whose mother was instrumental in the Rice Tariffication law, asserted she would support the appointment of an official tasked with maintaining stable rice prices.<\/p>\n
\u201cI am in favor of the appointment of a rice czar who will aid the Agriculture secretary in endeavors to uphold rice pricing,\u201d she stated. \u201cThis individual will also oversee the sustainability of rice in the marketplace.\u201d<\/p>\n
\u201cI will propose a \u2018Farmer First\u2019 law \u2014 increased funding for irrigation, mechanization, and farm-to-market routes,\u201d Mr. Pacquiao declared. \u201cWe require food terminals and chilled storage facilities so that farmers do not incur losses.\u201d<\/p>\n
Ms. Villar mentioned that she would endorse governmental initiatives to modernize agriculture by mechanizing farming processes, enhancing farm and post-harvest infrastructure, improving logistics, and adopting scientifically-based methods.<\/p>\n
\n
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Senatorial Candidates Champion MSME Development and Local Industry Safeguards Against Tariffs - WSJ-Crypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wsj-crypto.com\/index.php\/2025\/05\/08\/senatorial-candidates-champion-msme-development-and-local-industry-safeguards-against-tariffs\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Senatorial Candidates Champion MSME Development and Local Industry Safeguards Against Tariffs - WSJ-Crypto\" \/>\n<meta property=\"og:description\" content=\"“`html By Kenneth Christiane L. Basilio, Chloe Mari A. Hufana and Adrian H. 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![<\/a>\u201cThe answer to that is jobs, jobs, jobs,\u201d stated former Senator and pound-for-pound boxing icon Emmanuel \u201cManny\u201d D. Pacquiao, who is contesting for a Senate seat on May 12, in a conversation with BusinessWorld<\/i> in Filipino. \u201cI will advocate for substantial investments in public infrastructure particularly in rural regions and support initiatives for micro, small, and medium enterprises (MSMEs).\u201d<\/p>\n\u201cPeople require sustainable livelihoods, not just handouts,\u201d he mentioned in a Viber message.<\/p>\nThe administration of President Ferdinand R. Marcos, Jr. has fallen short of growth expectations over the last two years, with economic output increasing by 5.5% in 2023 \u2014 below the 6-7% target \u2014 and 5.6% in 2024, failing to meet the 6-6.5% objective.<\/p>\nMr. Marcos approaches the latter half of his term this year, three years after promising to rejuvenate an economy impacted by the COVID-19 pandemic, weakened consumption, and diminished agricultural output.<\/span><\/p>\nThe Philippines is also urged to enhance intra-regional trade as U.S. President Donald J. Trump’s tariffs progressively hinder a global economy that has for years thrived on predictable free trade.<\/span><\/p>\nBusinessWorld<\/i> sought insight from the top 18 senatorial candidates in mid-April regarding critical economic matters, but only Mr. Pacquiao, Las Pi\u00f1as Rep. Camille Villar-Genuino, former Senator Panfilo M. Lacson, and Party-list Rep. Erwin T. Tulfo responded.<\/p>\n\u201cOne of my chief priorities will be to foster inclusive economic development by empowering MSMEs,\u201d Mr. Lacson expressed in a Viber message. \u201cThey are facing hardships due to restricted access to capital, bureaucratic obstacles, and rising expenses.\u201d<\/p>\nMSMEs constitute over 99% of all enterprises in the Philippines, account for 67% of the nation\u2019s total employment, and contribute approximately 40% to the gross domestic product (GDP), as stated by the United Nations Development Program.<\/span><\/p>\nMr. Lacson indicated he would advocate for provisions that would streamline business regulations, offer tax benefits, and facilitate access to MSME loans.<\/span><\/p>\nAt the same time, Ms. Villar stated she would introduce legislation aimed at enhancing the agriculture, manufacturing, and service sectors, while reforms in business regulations and good governance would attract investments.<\/span><\/p>\n\u201cThe nation must concentrate on three vital areas \u2014 boosting competition and global integration, investing in skills development, and fortifying institutions,\u201d she added.<\/p>\nMr. Tulfo mentioned he would propose initiatives to expand irrigation systems, support the establishment of post-harvest facilities, and provide assistance to local producers, especially in times of crisis.<\/span><\/p>\n\u201cWe will advocate for the effective enforcement of the Ease of Doing Business law in the country to invite more investments that will create additional jobs for Filipinos,\u201d he noted.<\/p>\nNO NEW TAXES\n<\/b>All four candidates were hesitant to increase or implement new taxes, choosing to focus on enhancing tax collection instead.<\/p>\n\u201cThe government should primarily address inefficiencies in tax administration,\u201d asserted Mr. Lacson, who led the campaign against pork barrel funds during his senatorial term before they were deemed illegal by the Supreme Court. He promised to rigorously oversee the government budget if elected senator.<\/span><\/p>\nFinance Secretary Ralph G. Recto mentioned last week that the government was not planning to impose new taxes after achieving its revenue targets, with the government amassing P931.5 billion in revenue during the first quarter.<\/p>\nMr. Tulfo stated he intends to monitor the implementation of the Ease of Paying Taxes Law, ensuring its proper enforcement to improve revenue collection without introducing new taxes.<\/span><\/p>\n\u201cI am for the diligent implementation of taxes and honest tax collection, and pursuing those who evade taxes,\u201d Ms. Villar asserted.<\/span><\/p>\n\u201cI do not wish to place an additional burden on the impoverished,\u201d Mr. Pacquiao remarked. \u201cBefore contemplating new taxes, we must first eliminate corruption and improve tax collection efficiency.\u201d<\/p>\nThe senatorial candidates also committed to introducing measures aimed at protecting local industries and promoting industry diversification in response to U.S. President Donald J. Trump\u2019s sweeping reciprocal tariffs.<\/p>\nThey indicated that the Philippines should nurture its domestic industries to shield itself from global economic instabilities.<\/p>\n\u201cWe truly need to bolster domestic production and trade by supporting our local producers and MSMEs,\u201d Mr. Tulfo remarked.<\/p>\nHe mentioned he would convene relevant agencies such as the Trade and Agriculture departments to formulate a strategy that would protect exporters from the impending global trade conflict.<\/p>\n\u201cIf we establish reliable commerce within the country, we can replicate that by diversifying our exports to other nations,\u201d he continued.<\/p>\nMr. Pacquiao emphasized the necessity of investing in sectors where the Philippines excels, such as agriculture, digital services, and creative industries.<\/p>\n\u201cI will advocate for trade diversification and seek improved trade agreements with the Association of Southeast Asian Nations (ASEAN) and Asia-Pacific countries to reduce dependency on U.S.-China markets,\u201d he added.<\/p>\nMr. Lacson advised that the government should prioritize the passage of a bill that diversifies the nation\u2019s trade and investment partners. \u201cTrade opportunities from underutilized regions such as Southeast Asia, Africa, and Europe should be encouraged through simplified export processes, lower tariffs, and trade agreements,\u201d he added.<\/p>\n\u201cPrior to permitting measures that would liberalize trade restrictions, we must confirm that our own products are globally competitive,\u201d noted Mr. Lacson.<\/p>\nMs. Villar remarked that the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE Act) would \u201cenhance our capability to attract investors intending to expand or relocate to the Philippines, considering the relatively lower tariffs imposed on our exports to the United States.\u201d<\/p>\nBoth Mr. Pacquiao and Mr. Lacson highlighted the importance of promoting renewable energy sources, such as solar, wind, and nuclear power.<\/p>\nThe boxing champion suggested that the nation should seriously contemplate establishing nuclear power plants to meet industrial and household power requirements.<\/p>\nFiber optic technology could revolutionize energy transmission by providing faster, more efficient, and stable energy distribution across the region, he further noted.<\/p>\n\u201cUnlike traditional copper cabling, fiber optics minimizes energy loss, lowers maintenance costs, and enhances overall power infrastructure resilience,\u201d he stated, adding that the country should upgrade its fiber optic networks nationwide to ensure improved connectivity.<\/p>\nELECTRICITY PRICES\n<\/b>Mr. Lacson advocated for enhancing Filipino farmers’ access to alternative energy sources, while\n“`<\/p>\ntax benefits ought to be granted to renewable energy production firms.<\/p>\n\u201cLegislators can additionally utilize their supervisory authority to examine whether current statutes regarding electric cooperatives are being enforced effectively,\u201d he mentioned. \u201cThe Senate ought to advocate for an examination of all additional fees on electricity bills, including contract expenses, universal charges, and system losses.\u201d<\/p>\nMr. Lacson also recommends imposing a limit on system losses, which are transferred to consumers, to reduce electricity costs.<\/p>\n\u201cAs consumers suffer the consequences, power generation companies often become negligent in delivering services. Consequently, we are essentially rewarding them for failing to fulfill their responsibilities,\u201d he remarked.<\/p>\nMr. Lacson stated that amendments to the Electric Power Industry Reform Act should encompass openness in power supply agreements between distribution and generation firms to avert detrimental pass-through costs to the public.<\/p>\nMs. Villar intends to lower the \u201cexcessively inflated 15% weighted average cost of capital,\u201d which she claims increases electricity expenses.<\/p>\nShe also aims to reevaluate all \u201cunjust and deceitful contracts, energy shortages, and postponed transmission projects that directly impact consumers.\u201d<\/p>\nIn the meantime, Mr. Pacquiao and Mr. Tulfo intend to revise the Rice Tariffication law.<\/p>\n\u201cPromote local production,\u201d Mr. Pacquiao stated. \u201cI will advocate for a review of the Rice Tariffication law and provide more subsidies to our rice farmers.\u201d<\/p>\nMr. Tulfo mentioned that reinstating the authority of the National Food Authority to buy and sell rice \u201cwill open avenues for lower prices and competition,\u201d as traders and intermediaries continue to manipulate farmgate and retail rates.<\/p>\nMs. Villar, whose mother was instrumental in the Rice Tariffication law, asserted she would support the appointment of an official tasked with maintaining stable rice prices.<\/p>\n\u201cI am in favor of the appointment of a rice czar who will aid the Agriculture secretary in endeavors to uphold rice pricing,\u201d she stated. \u201cThis individual will also oversee the sustainability of rice in the marketplace.\u201d<\/p>\n\u201cI will propose a \u2018Farmer First\u2019 law \u2014 increased funding for irrigation, mechanization, and farm-to-market routes,\u201d Mr. Pacquiao declared. \u201cWe require food terminals and chilled storage facilities so that farmers do not incur losses.\u201d<\/p>\nMs. Villar mentioned that she would endorse governmental initiatives to modernize agriculture by mechanizing farming processes, enhancing farm and post-harvest infrastructure, improving logistics, and adopting scientifically-based methods.<\/p>\n\nSource link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"“`html By Kenneth Christiane L. Basilio, Chloe Mari A. Hufana and Adrian H. Halili, Reporters SENATORIAL hopefuls in this year’s Philippine midterm elections will emphasize small business growth, while safeguarding local industries from an impending global trade conflict that endangers economic progress, employment, and wages. They additionally committed to advocating for more job opportunities and<\/p>\n","protected":false},"author":3,"featured_media":11873,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[2367],"class_list":["post-11872","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy-and-markets","tag-return-a-list-of-comma-separated-tags-from-this-title-senatorial-bets-push-msme-growth-and-protection-of-local-sectors-from-tariffs"],"yoast_head":"\nSenatorial Candidates Champion MSME Development and Local Industry Safeguards Against Tariffs - WSJ-Crypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wsj-crypto.com\/index.php\/2025\/05\/08\/senatorial-candidates-champion-msme-development-and-local-industry-safeguards-against-tariffs\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Senatorial Candidates Champion MSME Development and Local Industry Safeguards Against Tariffs - WSJ-Crypto\" \/>\n<meta property=\"og:description\" content=\"“`html By Kenneth Christiane L. Basilio, Chloe Mari A. Hufana and Adrian H. Halili, Reporters SENATORIAL hopefuls in this year’s Philippine midterm elections will emphasize small business growth, while safeguarding local industries from an impending global trade conflict that endangers economic progress, employment, and wages. 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