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Manila Bulletin devider Philippines devider Mayor Isko lauds Cebu's 'Sugbo Negosyo' for helping SMEs

Mayor Isko lauds Cebu's 'Sugbo Negosyo' for helping SMEs

Published Nov 5, 2021 04:31 pm

Mayor Francisco “Isko Moreno” Domagoso said he would emulate Cebu’s Sugbo Negosyo livelihood assistance program.

(Photo from Isko Moreno Domagoso Facebook)

“Gov. Gwen’s Sugbo Negosyo is a brilliant and doable idea which is similar to what I plan to do when I become president,” said Domagoso during his team’s “Listening Tour” in Cebu on Friday, Nov. 5.

Sugbo Negosyo is a Cebu-based livelihood assistance program of the provincial government offering financial support to small and medium-sized enterprises (SMEs).

During the event, Domagoso explained that the Mandanas ruling in 2018 and the subsequent 55-percent Internal Revenue Allotment (IRA) increase in 2022 would allow local government units (LGUs) to have more autonomy and financial resources that could be used to create more programs similar to Cebu’s Sugbo Negosyo.

In Manila, the increased IRA as a result of the Mandanas ruling had been allocated to the “build, build, build” program to increase employment.

“Build more housing, more hospitals, more modern public schools and many others that provided more jobs during the pandemic. Umikot ang komersyo, maraming nagkatrabaho (If commerce goes around, many will find jobs),” said Domagoso.

Domagoso said that should he become president, he would encourage this kind of LGU autonomy.

In his recent visit to Pampanga’s Best factory in San Fernando, Pampanga, Domagoso explained how the LGUs can utilize the Mandanas ruling to support SMEs as well as to invest in housing, education, and health.

He plans to initiate the partnership between the LGUs and the national government agencies to restart SME development through low interest loans.

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