Full economic reopening to hasten recovery – PCCI

MANILA, Philippines — The country’s largest business group is pushing for the full opening of the economy as part of 10-point resolutions to be submitted to the government to fast-track recovery from the impact of the pandemic.

The Philippine Chamber of Commerce and Industry (PCCI) said it would present to President Duterte its proposals, which cover reopening the economy, job generation, energy efficiency, internet connectivity, innovation advocacy, ease of doing business, agricultural productivity, education, environment and infrastructure.

Under the resolutions, the PCCI is urging the government to fully open the economy now, even before herd immunity from COVID is achieved, to rescue, revive and rejuvenate commerce and industry.

The group also called on the government to provide assistance to businesses for the creation and preservation of jobs.

To sustain economic recovery and accelerate industrialization post-pandemic, the group is urging the state to make sure there is reliable and affordable power supply.

Another recommendation is for the government to fully implement the ease of doing business law.

In addition, the PCCI sees the need for the government to modernize agriculture, raise productivity levels and achieve food security.

PCCI also wants the government to take steps to accelerate the availability of nationwide internet connectivity at rates comparable to those in other Southeast Asian countries.

The group is likewise calling on the government to institutionalize innovation as a national strategy for economic development.

Also recommended are improvements in the education system through digitization.

PCCI said the national government needs to implement measures for the protection of the environment and to reduce carbon footprint.

Lastly, the PCCI wants the government to accelerate the completion of all infrastructure projects under the Build Build Build program and ensure transparency in the bids and awards of contracts.

PCCI president Benedicto Yujuico said he is hopeful the government would heed the business sector’s call to allow the economy to recover, become more resilient, competitive, innovative and sustainable.

“We will not concede this projected future amid all the grim outlook from many sectors. We, at PCCI, believe we still have what it takes for a nation to become one of the most robust economies in the world. The Philippine business sector will lead this change,” he said.