Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 7872

COVID-19 infections nearing 452,000, with 8,812 deaths

THE DEPARTMENT of Health (DoH) reported 1,135 coronavirus infections on Tuesday, bringing the total to 451,839.

The death toll rose by 56 to 8,812, while recoveries increased by 173 to 418,867, it said in a bulletin.

There were 24,160 active cases, 84.7% of which were mild, 6.4% did not show symptoms, 5.7% were critical, 2.9% were severe and 0.3% were moderate.

Rizal province reported the highest number of new cases at 117, Bulacan at 84, Quezon City at 71, Isabela at 39 and Laguna at 38.

DoH said 29 duplicates had been removed from the tally, while 20 cases tagged as recovered were reclassified as deaths. Thirteen laboratories failed to submit their data on Dec. 14.

The coronavirus has sickened about 73.2 million and killed 1.6 million people worldwide, according to the Worldometers website, citing various sources including data from the World Health Organization (WHO).

About 51.4 million people have recovered, it said.

Carlito Galvez, Jr., the chief enforcer of anti-COVID-19 efforts, this week said the government was expected to finalize this week a procurement deal for coronavirus vaccines with Chinese drug maker Sinovac Biotech Ltd. — Vann Marlo M. Villegas

Jailed Duterte critic again asks trial court to let her post bail

SENATOR Leila M. de Lima on Monday asked a Muntinlupa trial court for the third time that she be allowed to post bail, citing weak evidence in her drug trafficking case.

In a 62-page motion, the lawmaker said “it remains unclear” when and how exactly she had conspired to commit drug trafficking.

Testimonies from prosecution witnesses only pointed that jail convicts had allegedly given money for Ms. de Lima’s senatorial campaign.

She also said the prosecution would want the case to fall under the law against illegal drugs without proving the existence of a single gram of illegal drugs in relation to the case.

Ms. de Lima, one of President Rodrigo R. Duterte’s staunchest critics, said the testimonies “have questionable probative value and/or are irrelevant, incredible, biased, self-serving and based on hearsay.”

In the four years of trial, the prosecution had only presented five witnesses, she added. Ms. de Lima also said she was not a flight risk

The senator said her continued detention makes her unable to attend Senate sessions and other important meetings.

“This is a disservice to the Filipino people who gave her the mandate to represent them in the Senate, especially during these trying times.”

Ms. de Lima is on trial for allegedly abetting the illegal drug trade in the country’s jails when she was still Justice secretary. She was accused of extorting millions of pesos from a drug lord that she allegedly used to finance her senatorial campaign in 2016.

She has been jailed at the Philippine National Police (PNP) Custodial Center in Camp Crame since February 2017. Several witnesses against Ms. de Lima were drug convicts serving time at the national penitentiary in Muntinlupa City.

The European Union (EU) Parliament earlier adopted a resolution urging the Philippines to free Ms. Lima and look at extrajudicial killings in Mr. Duterte’s anti-drug campaign.

The EU lawmakers also asked the European Commission to revoke tax perks enjoyed by the country if the state fails to address human rights violations.

An Anti-Money Laundering Council investigator also said investigations found no money flowed from the bank accounts of the senator and her co-accused. — Vann Marlo M. Villegas

Nationwide round-up (12/15/20)

Rappler CEO skips plea

RAPPLER Chief Executive Officer Maria A. Ressa declined to enter a plea on her conditional arraignment for a second cyberlibel case.

A Makati trial court entered a not guilty plea on her behalf, her lawyer Theodore O. Te told an online news briefing on Tuesday.

Since the arraignment is conditional, Ms. Ressa did not waive her motion to quash the case, which had been submitted for resolution, he added.

Her arraignment came as a condition of the prosecution for her request to travel abroad to visit her parents in the US on Dec. 19, which the court granted.

Ms. Ressa told the same briefing she still had to seek permission from other courts where she has pending cases.

The second cyberlibel case was filed by businessman Wilfredo D. Keng over a social media post containing a screenshot of an article about Mr. Keng’s alleged involvement in illegal activities.

Ms. Ressa and a former Rappler researcher were convicted in June for cyberlibel in a lawsuit also filed by the businessman. — Vann Marlo M. Villegas

House seeks tax on e-gambling

THE HOUSE of Representatives approves on final reading bill taxing off-site betting on cockfights, other electronic gambling.

The House on Tuesday approved on final reading a measure seeking to tax off-site betting involving cockfights and other electronic gambling to fund the government’s pandemic response.

With 215 positive votes, 1 negative and zero abstention, lawmakers approved House Bill 7919, which will change the National Internal Revenue Code of 1997 to clarify the tax treatment for off-site betting.

The measure imposes a 5% tax on gross revenues derived from off-site betting activities on locally licensed online games, aside from taxes required by local governments and regulatory fees imposed by government agencies.

Albay Rep. Jose Maria Clemente S. Salceda, who authored the bill, earlier said the government had been unable to maximize the revenue potential from online cockfight and other electronic gambling “because the regulatory framework” for such activities has not been clarified. —  Kyle Aristophere T. Atienza

Post-vaccination plan sought

A SENATOR on Tuesday asked the government to create a post-vaccination plan for the coronavirus over concerns that inoculated people could still spread the virus.

“Vaccination is not the magic bullet to putting an end to the pandemic,” Senator Risa N. Hontiveros-Baraquel said in a statement on Tuesday. “We must create sustainable strategies for safely co-existing with COVID-19 while we roll out vaccination.”

Vaccinated people could still infect others, the lawmaker said, citing an editorial published in the Nature Journal last month.

“To my layperson’s ears, it means you can be protected from COVID-19 (coronavirus disease 2019) but you can pass it on to others,” Ms. Baraquel said. “I imagine that there are specific populations that cannot be vaccinated, like the very young.”

She questioned the capability of the national task force on COVID-19 and the Department of Health (DoH) in delivering vaccines to isolated and disadvantaged areas.

Senator Francis N. Pangilinan on Monday pushed the Senate to convene the committee of the whole to tackle funding for COVID-19 vaccines and other concerns such as logistical support, private sector mobilization and digital infrastructure. — Charmaine A. Tadalan

Rules on ‘emergency use’ out

THE FOOD and Drug Administration (FDA) on Tuesday said it had released the rules on the emergency approval of coronavirus vaccines.

At least three vaccine makers have inquired on the emergency application, FDA Director General Rolando Enrique C. Domingo told an online news briefing.

The requirement would be “country specific” and the approval of vaccines that got the nod of established food and drug regulatory boards from other countries would be targeted, he added.

“They will need some time to build the documents for each and every country they have applied in,” Mr. Domingo said.

The President issued Executive Order 121 this month allowing the FDA to approve emergency use for COVID-19 drugs and vaccines.

Mr. Domingo said the authorization is not a certificate of product registration or a marketing authorization, which means EUA-approved products can’t be sold in the market since they are still under trial.

He said Sinovac Biotech Ltd.,  AstraZeneca Plc and Pfizer, Inc. have emailed the FDA regarding the applications but had not formally applied for emergency use. — Gillian M. Cortez

Face shields made mandatory

THE INTER-Agency Task Force (IATF) for the Management of Emerging Infectious Diseases on Tuesday issued an order for the mandatory use of face shields and masks outside their homes.

“All persons are mandated to wear full-coverage face shields together with face masks, earloop masks, indigenous, reusable, or do-it-yourself masks, or other facial protective equipment,” according to a resolution.

Most establishments including malls have required face shields even before the IATF order. The task force said it would be up to local governments to impose penalties on violators.

The body also approved face-to-face examinations of insurance agents.

“Insurance agents’ qualifying examinations shall be allowed to resume in areas under general community quarantine following the health and safety protocols as may be prescribed by the Insurance Commission,” it said. — Gillian M. Cortez

Anti-communism bill filed

A MEASURE seeking to outlaw communist groups in the Philippines has been filed at the House of Representatives.

Duterte Youth Party-list Rep. Ducielle Suarez-Cardema filed House Bill 8231, which seeks to criminalize membership in the Communist Party of the Philippines (CPP), New People’s Army (NPA) and the National Democratic Front of the Philippines (NDFP), which had represented rebels in past peace talks.

“If we want peace in this country, we must finally destroy the entire capability of the CPP-NPA-NDF to wage war on all fronts, against our government and our people,” the lawmaker said in a statement on Tuesday.

The bill outlaws legal organizations and criminalizes support for the maoist group in their recruitment, operations and financial transactions.

Violators will be jailed for as long as 12 years and disqualified from holding public office. The properties of those found guilty of being affiliated with rebel groups will be seized.

The measure also bans people and groups from preparing documents or publications promoting subversive objectives. The measure “will not address the root causes of armed conflict,” Party-list Rep. Arlene G. Brosas said in a statement on Tuesday. “It will only intensify the state-funded red-tagging campaign.”

She said the measure is a “push back against historical gains made by the peoples’ movement.”

The Duterte Youth Party-list “comes again by being the mouthpiece of the Duterte agenda” by pushing the draconian legislation, Party-list Rep. France C. Castro said in a statement.

“From its name to its game, it’s very obvious that Duterte Youth merely acts as the tentacles of the Duterte administration in Congress.” — Kyle Aristophere T. Atienza

Regional Updates (12/15/20)

Isabela back to general lockdown

THE PROVINCE of Isabela will revert to a general community quarantine (GCQ) from a more lax lockdown until year-end after it reported a fresh surge in coronavirus cases.

“The imposition of a general community quarantine in the province is without prejudice to the imposition of a localized enhanced community quarantine in areas of special concern,” according to an inter-agency task force (IATF) order dated Dec.14.

Santiago City will be excluded from the general lockdown.

Last weekend, Isabela officials sought a modified enhanced community quarantine but a general quarantine was instead declared due to economic concerns. — Gillian M. Cortez

Physical classes to be pilot-tested

AETA children in Porac, Pampanga watch instructional videos on the first day of classes on Oct. 5. — PHILSTAR/MICHAEL VARCAS

THE DEPARTMENT of Education (DepEd) will choose pilot schools for face-to-face classes by the end of the month, presidential spokesman Harry L. Roque said on Tuesday.

Before the selection, the agency’s regional directors will nominate the schools that will take part in the program, he told an online news briefing.

Early next month, schools will be oriented before the pilot classes start on Jan. 11. This will be monitored by the DepEd and National Task Force Against the coronavirus disease 2019 (COVID-19). Findings and recommendations on the pilot run will be submitted to President Rodrigo R. Duterte after.

The President in June said he would not allow physical classes in the absence of a coronavirus vaccine. — Gillian M. Cortez

Beekeepers warn low prices a red flag for fake, adulterated honey       

REAL HONEY can cost up to P500 per 500 grams, beekeepers said, warning that anything priced significantly lower should be treated as suspicious, after the market was roiled by a government study that found up to 82% of domestic honey to be fake.

In a television interview Tuesday, Analinda M. Fajardo, research committee head of the Beekeepers Network Philippines Foundation, Inc., said real honey is heavy and typically costs P1 per gram.

“In Manila… a half kilogram of honey is (worth) P500,” Ms. Fajardo said.

Ms. Fajardo said retail prices as low as P125 are not likely to be real honey.

“If consumers see honey products priced like that, it is suspicious because real honey costs more,” Ms. Fajardo said.

Ms. Fajardo said real honey is a “complete food” with beneficial nutrients, unlike fake or adulterated products that could consist mostly of sugar syrup.

“One of honey’s characteristics, which is high viscosity… and (it can kill) microorganisms,” Ms. Fajardo said.

Ms. Fajardo said interest in beekeeping, or apiculture, has grown during the pandemic.

“In our group alone, the active members are around 500 people. It is a welcome sight,” Ms. Fajardo said.

Asked to comment, Agriculture Assistant Secretary Kristine Y. Evangelista said the Department of Agriculture will consult with the Food and Drug Administration on labelling measures for honey sellers.

“This is a way to guide our consumers if they want to buy pure honey, which is more expensive, compared to those with sugar,” Ms. Evangelista said during a virtual briefing Tuesday.

Researchers from the Philippine Nuclear Research Institute recently declared 62 out of 76 domestic products brands to be composed of up to 95% C4 sugar syrup.

They also found that 75% or 12 out of 16 Philippine honey products sold in groceries or souvenir shops were adulterated.

The study determined honey composition using stable carbon isotope ratio analysis, which matches the carbon isotopes in real honey with those found in bees and flowering plants. The signatures of sugarcane and corn were detected in many of the samples.

The researchers estimated that the honey industry is losing P200 million a year due to the proliferation of fakes. — Revin Mikhael D. Ochave

POGO office vacancies expected to enable expansion by BPOs

OFFICE VACANCIES following the departure of online gaming firms could be filled by expanding IT-Business Processing Manufacturing (IT-BPM) companies, making the industry a key barometer for a real estate recovery, Leechiu Property Consultants said in a report.

At a virtual briefing Tuesday, Leechiu Property Chief Executive Officer David T. Leechiu said companies involved in IT-BPM, an umbrella term for an activity also known as business process outsourcing (BPO), are expected to take up as much as 56% of the office vacancies, making BPOs once more the main market driver.

The industry’s expansion is expected to be fueled by global businesses restructuring their office arrangements during the pandemic and assigning more work to the outsourcing industry.   

“By the fourth quarter, vacated spaces registered at 540,000 square meters (sq.m.), with 51% or 277,000 sq.m. attributable to Philippine Offshore Gaming Operators (POGOs) and 33% or 179,000 sq.m. (to) other players struggling to recover from COVID losses,” the company said in its report.

“Pipeline demand for 2021 or total live requirements is estimated at 300,000 sq.m.,” it added.

Overall, it said Philippine prime office demand was 381,000 sq.m. in 2020, with 69% of the total demand in Metro Manila. The remainder was in Iloilo and Cebu.

Of this total Mr. Leechiu said the IT-BPM industry accounted for 182,000 sq.m., marking the industry as one of the few viable markets for property developers.

According to the report, POGO-related vacancies led to foregone revenue of about P1.4 billion in markets like Makati, Quezon City, Ortigas, and Mandaluyong.

He said 82% of the vacant space is in Metro Manila, the preferred location for BPO firms.

“Developments in the last two quarters have created compelling opportunities for IT-BPM players. We are thus confident that they will continue expanding in the country which remains a leading outsourcing arena for global businesses now seeking to cut costs and recover from COVID losses,” Mr. Leechiu said.

Mr. Leechiu said Iloilo City has been attracting many IT-BPM firms, adding that it accounted for the largest share of new office transactions outside of Metro Manila in 2020, at 50,000 sq.m.

Meanwhile, the study also found signs of a recovery in the retail market.

It said 76% of ground-floor retail space to be occupied in the food and services industry.

The firm found that condominium units in Metro Manila are still in demand despite the pandemic.

“In 2020, 42,500 units were sold and another 12,000 units launched. With the news of the vaccine and a sustainable low-interest rate environment, developers look forward to more launches and a more active residential market,” it said.

The study also found that prices of lots in Tali Beach, Kawayan Cove, and Peninsula de Punta Fuego, all in Batangas, have increased between 20% and 71% since the pandemic, while demand for Tagaytay homes has also risen.

It projected the tourism recovery to be gradual, starting in destinations that are accessible by road from major markets, followed by those reachable by domestic air travel, and then those heavily patronized by international tourists.

“We have every confidence that the rollout of the vaccine in 2021 will create unprecedented market euphoria that will dramatically benefit the real estate industry,” Mr. Leechiu said.

“A confluence of factors — from record-low, long-term interest rates, to the country’s fantastic fiscal fundamentals that have resulted in good credit ratings, to newfound mobility and tourism opportunities from a massive injection of infrastructure projects — will ensure that,” he added. — Revin Mikhael D. Ochave

Market for caregivers growing in Europe with ‘thousands’ of openings

THE Department of Labor and Employment (DoLE) said caregiver job opportunities are opening up in central and eastern Europe, while markets like Israel and Japan have indicated a preference for workers from the Philippines.

In a briefing Tuesday, Labor Secretary Silvestre H. Bello III said thousands of openings are available to workers seeking jobs in healthcare and caregiving.

“The countries with the demand now… are the Czech Republic, Romania, Poland, and Germany. Especially Germany; they have been demanding and writing to me through their Ambassador,” Mr. Bello said in Filipino.

He added the UK is also seeking guest workers but DoLE has been cautious about deploying workers there because of its return to lockdown. — Gillian M. Cortez

House approves magna carta for seafarers on second reading

THE House of Representatives approved on second reading Tuesday a measure seeking to define the basic rights of seafarers.

In a voice vote, the chamber approved House Bill No. 8057, which lays down acceptable work conditions and terms of employment for seafarers.

The bill recognizes the right to engage in collective bargaining; to access educational advancement and training opportunities; and to be provided clear terms and conditions of employment and company policies.

It provides for free legal representation for seafarers who cannot afford it.

The bill tasks the Land Bank of the Philippines, Development Bank of the Philippines, the Small Business Corp., other government financial institutions, as well as private banks, to set up a special credit window with preferential or subsidized interest rates “that will serve the financial needs” of seafarers for alternative livelihood, personal advancement, and education.”

The bill also encourages local government units to reduce local taxes, fees and charges imposed on transactions entered into by seafarers in connection with their profession.

The Department of Labor and Employment, Department of Foreign Affairs, the Philippine Coast Guard, and Maritime Industry Authority have been designated as drafters of the proposed law’s implementing rules and regulations. — Kyle Aristophere T. Atienza

SEC seeks nominations for microfinance NGO council

THE Securities and Exchange Commission (SEC) said Tuesday that it is soliciting nominations from the private sector for individuals to serve on the Microfinance NGO Regulatory Council (MNRC), following a recent vacancy due to resignation.

The MNRC is an accrediting body made up of four permanent members and three members from the microfinance sector. These three representatives must be endorsed by a majority of the council’s permanent members, with a term of three years, according to the Microfinance NGOs Act.

In a notice posted on its website, the SEC said that organizations, associations and alliances of microfinance NGOs (non-government organizations) registered with the SEC can propose nominees to serve on the MNRC for a term starting Jan. 1, 2021 and ending on Jan. 27, 2023.

The nomination process is outlined in the implementing rules and regulations of the Microfinance NGOs Act, the SEC said.

“[T]he procedure for nomination and appointment of a representative from the private sector shall be the same in case of vacancy. The appointment shall only be for the unexpired term of the predecessor but the appointed representative may be eligible for reappointment, subject to the prescribed qualification and nomination procedures,” the SEC said.

As of May 12, 2020, 30 microfinance NGOs accredited with the MNRC. — Angelica Y. Yang

BIR collects P582M in back taxes from firms shut down temporarily

THE Bureau of Internal Revenue (BIR) said it collected P582.5 million in the 11 months to November worth of taxes and fees owed by establishments it ordered temporarily closed.

In a statement Tuesday, the BIR the collections were generated by 196 establishments and represented taxes and fees in arrears, BIR Deputy Commissioner Arnel S.D. Guballa said.

He added that 103 complaints involving P4.96 billion worth of taxes are currently in the preliminary investigation stage.

The program shutting down businesses that owe taxes and fees is known as Oplan Kandado (padlock), run by the Department of Finance.

In 2019, the program generated P1.92 billion from 743 establishments.

Tax collections hit P2.059 trillion in the first 10 months. Revenue generated by the BIR dropped 10.4% to P1.596 trillion while Customs fell 15% to P448.6 billion. — Luz Wendy T. Noble

Drip irrigation emerges to solve rice paddy problem

JERUSALEM — An Israeli company has developed a drip irrigation system for growing rice to replace the flooded paddies that have supplied the world with rice for generations but cause a surprising level of damage to the environment.

Rice is the staple food for more than half the global population, but its cultivation uses 30-40% of the world’s freshwater and is responsible for 10% of man-made emissions of greenhouse gas methane, according to the UN-backed Sustainable Rice Platform.

Netafim, a company that pioneered drip irrigation decades ago to grow produce like potatoes and melons across Israel’s challenging arid landscape, has just finished a pilot scheme using its technology on 1,000 hectares (2,470 acres) of rice fields in locations from Europe to southern Asia.

At one such location, at La Fagiana farm in northeast Italy, two fields, side-by-side, grow a high quality rice for risotto. One is flooded, covered entirely by up to 15 cm of water to maintain temperatures and keep away weeds.

The other is criss-crossed with perforated pipes delivering to the roots precise amounts of water amounting to less than half the quantity used on the flooded field.

“We want to increase the production without increasing water use or lowering quality,” said Michele Conte, whose family has managed La Fagiana for decades and who has adopted the Netafim system on some of his land.

For three years the drip irrigation has yielded rice on par and at times even better quality than the flooded paddies, he said. It also allows them to rotate crops throughout the year.

Netafim said it had to learn from scratch how to achieve the same yield as flooding and it took a decade to create a new protocol for watering, fertilizing and planting rice with drip irrigation.

The growing conditions switch to aerobic from anaerobic, which means methane emission “goes to zero,” said CEO Gaby Miodownik.

Conte said the schedule for treating the rice still needs some fine tuning but that it has become a selling point for environmentally-concerned customers.

The initial investment in pipes, pumps and filters could be expensive for farmers whose profit margins are, for the most part, already thin.

But the shift away from flooding is expected to gain traction and companies like India’s Jan Irrigation are developing drip irrigation packages for rice as well.

Demand for rice is expected to rise 25% by 2050 and rice paddies leave too big a footprint, said Wyn Ellis, executive director at the Sustainable Rice Platform.

Drip irrigation was producing impressive results, doubling water productivity, and “getting more grain for every drop.”

Experts agree rice cultivation needs to become more sustainable.

“The sector needs a transformation,” Ellis said. — Reuters

Stronger collaboration for relief and recovery

After nine months of living in lockdown, Filipinos have experienced all kinds of hardships that have significantly impacted their lives.

The Philippine government’s imposition of a lockdown in mid-March led to severe economic repercussions as many businesses were forced to shut down, resulting in massive unemployment. Ultimately, the Philippine economy entered a technical recession in the second quarter, contracting by a record-low of 16.9%. On top of these, strong typhoons ravaged different parts of the country. All in, the International Monetary Fund (IMF) predicts the Philippine economy to fall by an average of 8.3% this year.

Perhaps one bright spot is the string of quiet achievements undertaken by the private sector to mitigate the impact of the pandemic despite their business losses. Private companies extended unsolicited and collective assistance, which eased the pressure on the government. Conglomerates poured resources to build quarantine and healthcare facilities, manufacturers repurposed their factories to produce food or medical supplies, and private groups shared their time and resources to provide food and other needs for frontliners and other vulnerable groups. Now, the private sector is actively partaking in the acquisition of COVID-19 vaccines for Filipinos.

As manifested in their efforts in cushioning the socioeconomic impacts of this crisis, businesses proved that they can be strong drivers of economic recovery post-pandemic.

A Pulse Asia survey revealed that 85% of Filipinos agree that to recover from the COVID-19 crisis, the government should partner with private enterprises, especially in building and operating key development public utilities and social service projects such as healthcare systems, electricity, water, roads, and mass transport. The survey also found that the top issues that private investors can help address are job creation, expansion of livelihood opportunities, and poverty alleviation.

During the virtual Pilipinas Conference 2020 organized by the Stratbase ADR Institute last November, the speakers resonated with the same message. Ayala Corp. Chairman and CEO Jaime Augusto Zobel de Ayala said that the investment-led component of the Philippines’ economic equation must be pushed to jumpstart the economy, create more jobs, and begin our recovery.

The second point emphasized in the conference is urgency to build up our digital infrastructure to support economic recovery.

Mr. Zobel, whose companies under the Ayala Group are involved in laying out the country’s digital infrastructures, elaborated that customers are more focused on keeping themselves safe and accessing services and products in completely different ways. The pandemic left everyone with no choice but to shift to digitalization, and, with this, “transformation just moved up to a whole other degree.”

Fortunately, local internet service has become faster now due in part to the government’s initiatives in cutting red tape, according to the National Telecommunications Commission (NTC). But telcos Smart and Globe also deserve credit for aggressively accelerating their infrastructure spending to expand and upgrade services.

Recently, an Ookla report showing that internet speeds are now faster by 100% compared to past years. OpenSignal, an independent mobile analytics firm, also reported significant improvements in the experience of Philippine subscribers in its latest Mobile Network Experience Report. The report showed that the country’s average data download speeds have improved by 80.9% from 4.7 Mbps to 8.5 Mbps since 2018. It also showed that 4G availability is on the rise, with Globe Telecom’s coverage, for instance, increasing by 19.5 percentage points from 63.7% to 83.3% over the last 10 consecutive quarters.

All this has led to Presidential Spokesperson Harry Roque even thanking the telcos for their efforts during a recent public briefing. This just demonstrates how responsive policy is good policy and that it stimulates investments and tangible improvements on the ground.

There is a strong need to uphold the whole-of-society approach with all sectors working together towards a common goal, which is “shared prosperity” for collective and sustainable recovery, as Mr. Zobel emphasized. For the whole system to jumpstart again, there must be collective action.

He also stressed the need to take care of the ecosystem around us if we want this ecosystem to succeed. “We cannot succeed if the rest cannot succeed as well,” Mr. Zobel concluded.

Rizalina Mantaring of the Management Association of the Philippines (MAP) said, “If the community around you suffers, you will not be sustainable.” Amb. Benedicto Yujuico, president of the Philippine Chamber of Commerce and Industry (PCCI), emphasized the need for the bayanihan spirit in developing recovery strategies to heal as one.

Indeed, it is time for companies to embrace the concept of “stakeholder capitalism” over the orthodox “shareholder capitalism.” Enterprises must consider the interests of their stakeholders — from their suppliers to customers — in their long-term vision and plans, and not just the interests of their shareholders.

The government cannot bear the weight of this pandemic alone. With public resources strained by the pandemic and natural disasters, the support of the private sector is critical in re-energizing and sustaining the country’s economic recovery. Through collaboration between the government and the private sector, this crisis can be an opportunity towards change that is positive, inclusive, and sustainable.

One lesson from our recent challenges is the importance of collaboration for relief and recovery. Without the business community, the government might not have been able to address this predicament quickly. Indeed, uniting both the government and the private sector is crucial in countering the ongoing crisis and in paving the way for economic recovery and sustained growth. 

 

Victor Andres “Dindo” C. Manhit is the President of the Stratbase ADR Institute.

1...7,8717,8727,873...13,407Page 7,872 of 13,407
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube