Who Is Francisco Tiu Laurel Jr., the Tycoon Set To Be the New Agriculture Chief?
A top donor to President Ferdinand "Bongbong" Marcos Jr.'s presidential campaign is set to be named the next Department of Agriculture (DA) secretary. Francisco Tiu Laurel Jr. is no stranger to the agriculture industry, as well as working closely with Marcos himself.
Who Is Francisco Tiu Laurel Jr.?
Billionaire Francisco Tiu Laurel Jr. is a fishing tycoon best known as the president of the Frabelle Fishing Corporation. The company went from a Philippines-based small trawl fishing company established in 1966 by his parents Francis and Bella Tiu-Laurel to becoming one of the top deep-sea fishing companies in the Asia-Pacific region. The corporation started with two fishing vessels around the Cuyo Island group and Northern Palawan and has since grown this number to around 150. In 1972, it was recognized as a top supplier for local canned tuna makers.
Laurel has worked in the fishing, seafood processing, and agriculture business for about three decades now. His other ventures include food industry services in Vietnam, Indonesia, Singapore, China, Japan, and South Africa, among other countries. Laurel has been a fixture in world tuna conferences and has been a panelist in the National Geographic Society-led Coral Triangle Initiative, too.
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Apart from these interests, Laurel is the president of Agusan Power Corporation. During the inauguration of its 24.9-megawatt Lake Mainit hydropower plant last July, the company invited the president as a sign of goodwill. The power plant was groundbreaking because it harnesses the waters of Lake Mainit to generate electricity for roughly 50,000 homes in the area.
During the 2022 Presidential Elections, Laurel was reportedly one of Marcos' biggest campaign donors. He would go on to be appointed as a member of Marcos’ Private Sector Advisory Council.
Malacañang, nevertheless, has yet to confirm the appointment. Presidential Communications Secretary Cheloy Garafil herself stated that no formal decision has been made about the appointment. Executive Secretary Lucas Bersamin earlier claimed that Marcos has been mulling over the decision since June. '
The absence of a DA chief has been scrutinized since Marcos decided to take over the post himself soon after he was sworn into office. Between the sugar import mess and the rising costs for rice and other crops and vegetables, the President has been criticized for the perceived inaction. This time around, it seems he's close to finding the newest addition to his Cabinet.
