From left, British Chamber of Commerce Executive Chairman Chris Nelson moderating from London, and DTI Secretary Ramon M. Lopez during the Government’s Response to COVID-19 on Business operations, unrestricted movement, ensuring availability (Photo collage from THEPHILBIZNEWS)
By Monsi A. Serrano
With limited business activities due to community quarantine allowing only essential companies to operate, many companies and individual business owners remain observing what is the gameplan of the government.
To ensure everyone is aware of the efforts that the lastest plans and activities that are happening on the ground as everyone adjusts to the transition brought by the pandemic, the British Chamber of Commerce Philippines co-hosted a webinar with European Chambers addressing the programs and policies in place in response to COVID19 May 14, 2020.
Modetared and hosted by BCCP Executive Chairman Chris Nelson from London, in the webinar, DTI Secretary Ramon M. Lopez discussed the government’s issuances in response to challenges brought on by the pandemic and assistance provided to MSMEs, and industry promotion strategies to revive the economy post-ECQ. He presented industries that would contribute to the 5.8% GDP growth target in 2021 namely, construction, manufacturing, agriculture, and the service industry.
Apart from this, the Trade Chief also assures all businesses while acknowledging the challenges, that the government especially the Department of Trade and Industry has been doing everything to make sure that the economy will be able to rebound and remain strong in the region.
Citing the country’s past performance last quarter of 2019, the Philippines is just a few points away from Vietnam in terms of growth. While the first quarter of 2020 dipped, Secretary Lopez believes that the country would be able to make it hit the 5.8% by 2021 as the government will continue to ramp up the Build, Build, Build program, and the Department of Agriculture under the leadership of William Dar preps up for the Plant, Plant, Plant program to ensure enough food supply and support the food manufacturing companies which is also set to contribute around 4%-5%.
Read related story: https://thephilbiznews.com/ph-economy-sets-to-rebound-to-5-8-growth-in-2021-trade-chief/
