DAVAO CITY –— The message was strong and the dream is big, as President Ferdinand R. Marcos Jr, delivered his first State of the Nation Address before the Senate and the House on Monday July 25, 2022.
Looking back at the glorious years, when Filipino people enjoyed so much resources and graduates being looked up to due to their English proficiency and innate skills of competitiveness, , Marcos said the Philippines must thrive to again become an investment haven as the world is on its post pandemic recovery.
The Philippines, according to Marcos, cannot afford to have another lockdown, as it prepares to strengthen the economy and provides all the support to the basic sectors which propel the economic growth like the agriculture, infrastructure and the deploment of FIlipino workers abroad which remain teh top earning sector of the country.
“Our country must become an investment destination, ” he stressed. The need to spread the investment opportunities which must cascade to other regions.
The retail sector must be opened for the people to have the right to choose and avail cheaper but quality goods and medicines.
To further strengthen the agricultural sector, Marcos said he will issue and Executive Order to grant moratorium to farmers in paying their loans and use the money to become more productive and open up more mobile markets through the Kadiwa which is supervised by the Department of Agriculture, (where he is the chiefin the meantime),
Kadiwa operates rolling stores nationwide to sell farmers products in the different areas to help the farmers sell their products and provide fair price for the consumers.
He asked the House to repeal Section 5 of the Republic Act 6657 or the Comprehensive Agrarian Reform Program to provide a venue for the factors to restructure there loans.
Senction 5 of the law highlights “Payment by Beneficiaries. – Lands awarded pursuant to this Act shall be paid for by the beneficiaries to the LBP in thirty (30) annual amortizations at six percent (6%) interest per annum. The payments for the first three (3) years after the award may be at reduced amounts as established by the PARC: Provided, That the first five (5) annual payments may not be more than five percent (5%) of the value of the annual gross production as established by the DAR. Should the scheduled annual payments after the fifth year exceed ten percent (10%) of the annual gross production and the failure to produce accordingly is not due to the beneficiary’s fault, the LBP may reduce the interest rate or reduce the principal obligation to make the repayment affordable.”
The President’s first SONA lasted for 1:13:07.-Editha Z. Caduaya
