COMPANIES must prioritize projects and review short-term plans as the business community prepares for the lifting or modification of the lockdown, the head of the Makati Business Club (MBC) said.
In an ANC interview on Tuesday, MBC President Edgar O. Chua said companies have been using the extended lockdown to plan for how they will be starting their operations.
“In terms of prioritizing the projects of the company, cash now really becomes king. It’s very, very important. And companies need to review their short-term and medium-term plans — like do you pause in terms of your expansion plans? For some this presents opportunities for expansion,” he said.
The enhanced community quarantine is extended in areas, including Metro Manila, until May 15.
“Demand, for most, except for some areas, will actually be very low… there will be a slowdown in that so people need to start thinking of how do you manage in such a situation,” Mr. Chua said.
He said companies must be prudent in prioritizing projects, work with the government to ensure that the supply chain runs smoothly, and plan for several scenarios.
“When things do not develop as you have anticipated, you have already thought of other possibilities and you can react quickly.”
He said the country must be careful in how it lifts the lockdown so that public health gains made during the quarantine will not be lost.
Mr. Chua said companies have been preparing for the lifting of the lockdown, but noted that they may still face challenges in terms of the limitations in public transportation, the main mode of transport for workers in many industries.
“The more difficult aspect which government may have been wanting to better prepare are the healthcare infrastructure system and this included quarantine, and this included testing, and hospital beds. I think we need to be moving towards — by the time we open up — we should have better facilities for quarantine, for hospitals, and also for testing,” he said. — Jenina P. Ibañez
