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Athletes share sports values to apply to life during ECQ

THE SPORTING world has been forced to a halt by the ongoing coronavirus disease 2019 (COVID-19) pandemic but values learned from sports would go a long way in helping one cope up with the prevailing conditions under the enhanced community quarantine (ECQ).

It is something local athletes firmly believed in and pushing others to take cue from during this time of crisis.

For Ateneo Blue Eagles standouts and Philippine Basketball Association rookies Matt and Mike Nieto, teamwork is a value that is key amid COVID-19; that is for everyone to come together and have their efforts done in the collective to carry one another.

The Nieto twins, also members of Smart-sponsored Gilas Pilipinas, showed their push on such front by organizing donation drives for the city of Cainta in Rizal, whose mayor is their uncle Kit Nieto.

The two said their Gilas family and PBA mother clubs helped in the drive, something they are very thankful for.

“Our Gilas Pilipinas family helped us, as well as our mother teams in the PBA — Rain or Shine Elasto Painters (Mike) and NLEX Road Warriors (Matt) — who gave relief goods for the people of Cainta,” Mike shared.

And being able to do so brought a lot of gratification on their part, seeing the joy in their chosen beneficiaries.

“We saw the faces of the people when they received the donation — they were thankful. Some even cried,” Matt shared. Adding, “All the hard work really paid off after seeing their reaction.”

The brothers ended their University Athletic Association of the Philippines journey by helping Ateneo to a third straight league title last year.

Discipline is also another sports value that the Nietos are high on, in particular heeding the call to stay at home to mitigate the spread of COVID-19, which, as of this writing, has 6,710 confirmed cases in the country.

“Stay disciplined. We already know that we can’t go out of our homes so that we can prevent the spread of the virus. Let’s be disciplined, and let’s encourage others to stay home as well,” Mike said.

Discipline is being pushed by members of esports team PLDT-Smart Omega as well, highlighting that doing so we are ensuring the safety and wellbeing not only of ourselves but also those around us.

“Hadjizy” Salic Imam and “Haze” Jniel Bata-Anon assured that they are safe and healthy inside their camp since the ECQ was declared in March.

Then there is staying healthy.

While the ECQ has rendered outside movement limited, it should not stop one from being active and working to continue to be healthy even inside one’s home.

“Of course, we need to eat healthy food like vegetables and fruits, so that we can boost our immunity. If we can take vitamins daily, and work out [the better],” said volleyball hitter Maria Shola Alvarez, who plays for the PLDT Fibr Hitters in the Philippine SuperLiga.

To help others on this end, the Nieto twins have tapped on Instagram, engaging their followers on the need to stay healthy and how to protect them from COVID-19.

“You can follow us on Instagram. We uploaded exercise tips so that people can stay healthy despite the lockdown… It’s important that we don’t infect other people, and always wear your face masks,” Matt said.

“Even if we’re inside our houses, we can do a lot to help our fellow Filipinos, especially those in need. We will do all these for the country,” Mike, for his part, said. — Michael Angelo S. Murillo

Woods, Mickelson, Brady confirmed for charity match

NORTH CAROLINA — Tiger Woods and Phil Mickelson will join American football quarterbacks Tom Brady and Peyton Manning in a charity golf match next month, media company Turner Sports said on Wednesday.

“The Match: Champions for Charity is coming soon exclusively on TNT. All proceeds will benefit COVID-19 relief,” Turner Sports said.

No more details of the event were given, but it is expected to be a two-on-two contest, and there is widespread speculation it will be held at a Florida course.

Florida Governor Ron DeSantis recently expressed support for the event.

“You wouldn’t have a gallery there. You wouldn’t have crowds, but to put that on TV, I think people have been starved for content,” he said.

Woods and Mickelson are the two most successful golfers of their era, with 15 and five major championships to their names respectively.

Neither has played since the PGA Tour cancelled the Players Championship due to the coronavirus pandemic after the first round on March 12, shutting down the tour indefinitely.

Woods and Mickelson previously played a pay-per-view exhibition in November 2018 that was beset with technical difficulties and ultimately streamed for free.

Mickelson won the $9-million event in Las Vegas in 22 holes in a contest largely devoid of the trash talk that many viewers were hoping to witness.

But the addition of Brady and Manning is likely to spice things up, and be a big television draw for a national and international audience starved of live sport due to the coronavirus shutdown.

Brady is a six-time Super Bowl champion who has just signed for the Tampa Bay Buccaneers after spending his entire career with the New England Patriots.

Manning, who retired in 2016, is the only starting quarterback to win Super Bowls with different teams — the Indianapolis Colts in 2006 and Denver Broncos in 2016. — Reuters

Sardines brand takes care of its MPBL family

By Michael Angelo S. Murillo
Senior Reporter

PART OF THE Maharlika Pilipinas Basketball League with the Zamboanga team, Family’s Brand Sardines is coming to the aid of employees of the fledgling league affected by the coronavirus disease 2019 (COVID-19) health crisis.

Treating them as family and one of its own, the sardines brand moved to donate one box of different Universal Canning Incorporated (UCI) products per staff and referee of the MPBL, with each box containing 48 cans.

The group said it was its way of giving back to the league and in line with its push to underscore the need for everyone to their part in the fight against the highly contagious respiratory disease.

“That is what family is for. We don’t just show our compassion in good times, but more during difficult times. We treat MPBL as a family, too,” said Family’s Brand Sardines head of marketing Tonet Roque, who is also in charge of the Zamboanga team’s day-to-day operations.

“We are representing the City of Zamboanga, and as the sardines capital of the Philippines, we felt the need to support the staff of the MPBL, they are the true Manok ng Bayan,” she added.

The Family’s Brand Sardines officials said that they recognize that the fight against COVID-19 may linger for a while, hence, the need to have each other’s back in forging ahead.

“In this time of crisis, nothing matters most than our family. Whatever happens or however long this will take, we will get by with the help of our family,” Ms. Roque said.

Zamboanga Family’s Brand Sardines made it all the way to the semifinals of the MPBL Lakan Cup, losing to Davao Occidental, 2-0, in their best-of-three series.

The MPBL was forced to suspend the division finals of the Lakan Cup in accordance with the government’s declaration of state of public health emergency and enhanced community quarantine last month.

Under the declaration, mass gatherings, like sporting events, are prohibited.

At the time of the suspension, the best-of-three finals between San Juan and Makati (North) and Davao and Basilan (South) were tied at a game apiece.

Gronk’s impact

Not a few quarters have seen fit to take the Patriots to task in the aftermath of the deal that had them sending hitherto-retired Rob Gronkowski and a seventh-round pick to the Buccaneers for a fourth-round pick. The three-time Super Bowl champion had already put up a body of work that placed him in rarefied air when he felt compelled to hang up his cleats in 2018; while fresh off a successful run to the top of the National Football League, he spoke of being worn down by the physical nature of the sport, needing a whopping 12 surgeries since being chosen 42nd overall in 2010 just to stay on the active roster. At the time, he left the titleholders hanging, with one season still left on his contract. Now, he gets to be reunited with quarterback Tom Brady while his erstwhile employers seemingly get little in return.

In truth, the Patriots had no choice but to give in to Gronkowski’s trade request. He certainly didn’t want to play for another franchise; it was the Buccaneers or bust for him. Which meant that they would have been left with nothing had he stayed retired, or forced to take a salary cap hit of $10 million had he suited up for them anew. True, he would have been a huge upgrade at tight end even if his heart lay elsewhere. On the other hand, they had only $2.1 million in space available, and would have had to do no small measure of financial calisthenics to make the numbers jibe — work more fit for use to address shortcomings in other positions.

Did the Patriots bend over backwards to accommodate Gronkowski? Perhaps. Did they, in the process, give the Buccaneers more ammunition to be used against them? Certainly. In any case, there can be no denying the motivation of head coach Bill Belichick: He finally gets the opportunity to prove that he can exceed expectations even without Brady under center. Given his trademark competitiveness, he has, no doubt, seethed over the contention that more of their accomplishments can be attributable to his longtime Hall-of-Fame-bound partner. And, yes, he figures to put the fourth-round pick he got to good use in this regard.

There can be no glossing over Gronkowski’s short-term value, though. His arrival fits perfectly with Brady’s timeline and the Buccaneers’ win-now mentality under coach Bruce Arians. His body, fit enough to claim a World Wrestling Entertainment title belt, doesn’t need to last long — just long enough for him and his good friend to produce results anew. And they will, though how much is anybody’s guess. They’re casting moist eyes on the hardware with reason. Meanwhile, the Patriots are looking farther down the road, confident of being proven right in the end.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and Human Resources management, corporate communications, and business development.

PGH calls for blood donations from COVID-19 survivors

Since April 15, the number of people who have recovered from the coronavirus disease 2019 (COVID-19) has surpassed the nationwide death toll. As of April 23, there are a total of 722 recoveries and 462 deaths. While the situation is improving, there is still much to do.

“Filipinos continue to suffer and some eventually die from COVID-19 everyday. There is no proven treatment yet for this although different medications and regimens are being investigated. And the vaccine against the novel coronavirus is not yet available. That is why we are calling for plasma donations from COVID-19 survivors. Their antibodies may help save patients who are still battling the disease, especially the severe and critical cases,” said Dr. Jonas Del Rosario, spokesperson for the Philippine General Hospital (PGH).

Known as convalescent plasma therapy, the treatment is a century-old technique that has been tried and tested on numerous illnesses, most recently for diseases such as Ebola, Sars, Mers, and Swine Flu. It involves the transfusion of plasma, the liquid component of blood, from a recovered patient to a sick patient.

Much like other organizations around the world, the PGH sees plasma therapy as a possible stop-gap to hold the virus at bay while more complex treatments are developed. “A vaccine is a year out, but what if we can use the antibodies of those who have already survived to strengthen the immune system of those still battling the virus,” said Dr. Del Rosario.

Since beginning the experimental treatment very recently, the PGH has received over 90 inquiries with more than 21 passing the criteria and at least 19 having already donated plasma. At least five COVID-19 patients were able to receive transfusions.

“Right now, we are taking care of over 100 COVID-19 patients in the PGH, and some of those are severe and critical cases who have exhausted all other treatment options with no success. For them, plasma therapy could be the last resort. That’s why we’re looking for more donors,” said Dr. Del Rosario.

The plasma donation process for COVID-19 survivors is fairly straightforward. When a prospective donor calls the PGH hotline, he or she is first evaluated over the phone. Once found eligible to donate, PGH personnel will conduct a home visit to get informed consent and a blood sample. After that, the donor is invited to the College of Medicine in UP Manila to donate.

To all COVID-19 survivors who want to donate blood, you may call the PGH hotline at 155-200.

Hybrid seed firm SeedWorks donates P1-M in goods to COVID-19 bayanihan efforts

Agricultural research firm SeedWorks Philippines, donated this week P1-M in cash and kind to the COVID-19 relief projects spearheaded by the Department of Agriculture and GMA Kapuso Foundation.\

SeedWorks Philippines is an agricultural research firm focusing on the development and distribution of hybrid varieties of rice, corn, and vegetables that optimally grow even in adverse climate, weather, and soil conditions, producing higher yields to benefit farmers and consumers.

Seedworks PH shared that a major part of the donation will be in the form of high-quality sweet corn seeds in support of the Department of Agriculture’s (DA) ‘Plant, Plant, Plant’ program also dubbed as ‘Ahon Lahat, Pagkaing Sapat (ALPAS) Laban sa Covid-19,’ which is aimed at farmers and consumers nationwide. The sweet corn seeds will be turned over to DA LGUs in targeted local government units in CALABARZON, Bicol, Bukidnon, Agusan del Sur, and Davao beginning in the April 20 week.

“We are heeding the government’s call for modern technology and intensified use of high-quality seeds to bolster food productivity amidst the current threat of the Covid-19 pandemic,” said SeedWorks Philippines VP for Sales Remus Morandante. “Our sweet corn seeds can easily grow even in one’s backyard with little or no farming skills required. The variety is also tolerant to major diseases, produces cobs with long ears, and yields very sweet kernels.”

SeedWorks PH explains that corn makes an excellent staple food especially in times of crisis. Aside from having dietary fiber that curtails hunger for a longer period and being a rich source of carbohydrates (86 calories per 100 grams, higher compared to most vegetables), this crop also:

  • provides important minerals that the body requires like copper, iron, magnesium, manganese, phosphorus, and zinc
  • contains valuable B-complex group of vitamins—folates, niacin, pyridoxine, thiamin, and riboflavin—that pair with necessary enzymes during the body’s metabolism process
  • provides vitamins C, E, and A (in the form of beta carotene) as well as antioxidants and other beneficial compounds that help protect the system against diseases.
  • and reduces the risks of Type 2 diabetes, colon cancer, and cardiovascular conditions.

In addition to their seed donations, SeedWorks PH is also donating P250,000 cash to GMA Kapuso Foundation’s “Operation Bayanihan: Labanan and Covid-19’ program,” which is pooling funds to aid healthcare frontliners, border-quarantine personnel, and families that have lost income due to the ongoing enhanced community quarantine implemented in Metro Manila and the entire Luzon.

“The amount is comprised of monetary donation from the company and voluntary dole-outs from our staff nationwide,” said SeedWorks Philippines Finance and Admin Manager Noriel Aviñante. “We hope these donations could help our fellowmen especially during these trying times.”

MyKuya connects 1,000 jobseekers in online job fair, targets 15,000 more

As our country’s medical frontliners continue the hard work of keeping COVID-19 at bay, private firms have another war of attrition on their hands: the care and keeping of our entrepreneur-driven economy.

A recent report from the Department of Labor and Employment noted that well over a million workers have been affected by the temporary closures around Metro Manila these past few weeks. A majority of these workers hailing from the manufacturing, hospitality, restaurant, and tourism industries.

While government stipends and support systems for shifting business models online have helped mitigate some losses, some downsizing and closures are inevitable–and with them, job losses.

On-demand service and self-styled super app MyKuya has taken on that challenge by offerings its platform as a means for the recently unemployed and in need of additional revenue to find work.

Over the month of March, MyKuya has created job opportunities for nearly 10,000 people. Their recent job fair alone saw about 1,000 job-seekers flocking to the platform in under 45 minutes.

Through MyKuya’s platform, workers (called Kuyas and Ates) can offer their services for a variety of tasks, ranging from buying groceries, to standing in line to pay bills for you, or delivering or picking something up on a motorbike. Prior to the quarantine period, cleaning services, carwashing and massage services were also in high demand. Currently, the company serves the entire Metro Manila, with some areas in the wider Mega Manila area also starting to receive some support.

But MyKuya isn’t limited to just helping individuals out either. Through its platform, businesses like manpower agencies and traditional service providers are also able to scale up their operations by sourcing talent in real-time.

With communities across the capital region under lockdown, MyKuya saw a significant spike in demand, translating into a massive amount of new job requests created on the platform over the past few weeks.

“Since the lockdown started, we’ve seen more people signing up to be users on the app,” said MyKuya founder Shahab Shabibi. “Naturally, this means we’ve also been able to hire more Kuyas and Ates to be a part of our team as well. It’s actually during the enhanced community quarantine that we’ve seen our numbers swell up more than ever before. During the enhanced community quarantine period alone, over 2,000 have already gotten their MyKuya accounts activated and nearly 7,000 onboarded.”

Making a meaningful impact through jobs

“Many of the people we’ve seen signing up were actually from the industries hardest hit by the pandemic,” Shabibi said. “A lot of them were contractual workers, already living day-to-day.”

These are workers already in financial risk, so Shabibi says his firm has taken extra care to make sure the added health risks of working through COVID-19 don’t compound that problem.

“First thing is we always make sure those working with us are 100% volunteer partners, since there’s a certain risk that comes with being out at a time like this,” said Shabibi. “One of the safety precautions we then take is that we always make sure our talent has masks, sanitizers and alcohol whenever they go out and do their jobs. We coordinate with our Enterprise Partners to make sure this happens.”

Aside from that, Shabibi also details that temperature checks are regularly done, social distancing is emphasized, and only those under 45 are allowed to work at this time. 

“These measures ensure our talent can provide a valuable service while staying safe. This protects not only our team, but also the community that they’ll be interacting with.”

Shahab Shabibi says the middle of a pandemic isn’t exactly how he pictured the company gaining traction and creating real opportunities. But he is confident that MyKuya is ready to meet the needs of the times.

“We’re ready to onboard another 15,000 Kuyas and Ates,” he said. “After all, every new Kuya and Ate means one more person that we can provide gainful employment for. In turn, each Kuya and Ate can serve hundreds of Filipinos over the course of a month, people whose lives we can make that much easier. By becoming an Enterprise Partner, businesses can even quickly source talent and better manage the manpower they have.”

“Everybody helps each other out,” Shahan said. “Right now, what can be more important than that?”

Protecting communities one face shield at a time

Online campaign raises awareness of protection for community frontliners

Difficult situations call for improvised solutions. Even before the outbreak of the coronavirus disease 2019 (COVID-19), the immediate lack of face masks upon the eruption of Taal Volcano last January has pushed some to be creative in protecting their mouths and noses. The current pandemic has further pushed the demand not just for face masks, but also for personal protective equipment (PPEs), especially for our frontliners.

It seems, however, that not all frontliners get the protective gear they need. Inevitably, the PPEs provided by the national government as well as other concerned sectors go to medial frontliners, who definitely need it the most. While PPEs are highly demanded at hospitals and health centers, there are other frontliners who are also in need of protection.

Frontliners such as security guards, janitors, barangay tanods, delivery personnel, garbage collectors, metro aides, drivers for health workers, bakery and eatery staff, supermarket and fastfood staff, bank tellers, and pawnshop and remittance employees are also considered as high vectors for transmission. They need adequate protection as well, since they regularly contact many people in their areas of work.

A face shield will aptly meet this need, since it serves as a middle layer of defense between communities in quarantine and frontliners working for essential services. Moreover, face shields can be easily done using materials found in every home.

Seeing the need to protect community frontliners by providing them face shields, Carol Ong, founder and chairperson of the Philippine Chamber of Business and Professionals (PhilCham Shanghai), and Marlon Rivera, a well-known film director, in partnership with advertising agency BBDO Guerrero, has launched the #CommunityShields initiative.

By presenting procedures for creating improvised face shields through its social media platforms, #CommunityShields primarily aims to turn homes into a network of factories for community face shields during the quarantine.

“Community frontliners can protect, or can infect entire neighborhoods. But how many are protected by face shields?” Ms. Ong said in a statement. “We want to enable communities to shield their own frontliners; and be part of the solution.”

The initiative encourages people to be a part of the solution by making face shields for themselves and for community frontliners they meet.

It also urges netizens to share a selfie or video of the face shields they have made, together with the hashtag #CommunityShields, in order to consolidate all the ideas in one easy search.

BBDO Guerrero amplifies this initiative through designing a series of posters that can be shared via existing distribution networks, print, and social platforms.

The instructional posters and social posts are aimed at teaching people how to make face shields using materials that are readily available at home; such as plastic book covers, hats, soda bottles, and acetate sheets.

“Communication can play a critical role at this time. Educating and inspiring people to help with what they can do from their homes can help provide valuable aid to our frontliners who continuously risk their lives for the benefit of the entire community,” David Guerrero, creative chairman of BBDO Guerrero, pointed out.

Each infographic details the procedures in three to four easy-to-follow steps, and is now posted on #CommunityShields’ pages on Facebook and Instagram.

Learn how to make your own community shields by liking their Facebook page at facebook.com/communityshields or following them on Instagram @communityshieldsph. — ADRIAN PAUL B. CONOZA

Q1 PEZA-approved investments fall

By Jenina P. Ibañez
Reporter

THE Philippine Economic Zone Authority (PEZA) reported an almost 30% decline in approved investments in the first quarter mainly due to the lockdown aimed at containing the coronavirus disease 2019 (COVID-19).

In a statement on Wednesday, the investment promotion agency said it had not approved new investments in March after its board failed to meet after the enhanced community quarantine (ECQ) was implemented in Luzon on March 17.

But even before the ECQ, PEZA said total approved investments slid by 5.85% in the first two months of the year.

As a result, approved investments dropped by 27.98% to P16.5 billion in the first quarter from P22.9 billion in the same period last year.

PEZA is the second-biggest contributor to investment pledges after the Board of Investments.

“PEZA’s investments continued to be challenged for the first quarter of 2020. On top of this issue is still the continuing uncertainty posed by the rationalization of incentives under the pending legislative measures,” PEZA Director General Charito B. Plaza said, referring to tax reform proposals to rationalize incentives and reduce corporate income tax.

“Added to this is the current pandemic caused by the COVID-19 virus, which has caused a tremendous and immediate impact on PEZA’s export manufacturers and exporters of IT-enabled services (BPOs),” she said.

Ms. Plaza said PEZA is strictly following quarantine measures before reviewing pending applications, expansion plans, plant construction and investor partnerships.

PEZA projects in the first quarter fell by 32% to 87 from 128 a year ago.

As of January, workers employed directly by PEZA enterprises grew by 6% to 1.57 million from 1.48 million.

The value of exports by PEZA-registered enterprises went up by 8.24% to $4.36 billion as of January, from $4.03 billion a year ago.

PEZA said first-quarter export and employment figures were still being completed.

IT INVESTMENTS DROP
PEZA-reported investments in information technology (IT) plunged by 42.02% to P2.33 billion in the first quarter, from P4.012 billion a year earlier after a 25% decline in the number of projects to 30.

As of January, direct employment in IT firms rose by 12.04% to 825,133, while exports jumped 15.48% to $1.15 billion.

Export-oriented and outsourcing businesses are allowed to remain operational during the lockdown provided they implement work-from-home measures, or provide housing and transportation to its minimal work force.

PEZA data said that out of 1,749 businesses, almost 60% or 1,042 remain operational. Among these, only 38 are fully operating.

There are 303 companies focused on work-from-home operations, while 166 are working with a minimal work force and 535 have a mix of both.

The PEZA-registered businesses that remain operational have a work force of more than 960,000 out of 1.14 million total workers.

“The Philippines has forthcoming opportunities after the pandemic to make the country attractive to more investments that may be transferring from China. The pandemic shows how important it is to make our economy self-reliant, self-sustaining and resource-generating,” Ms. Plaza said.

“There is a silver lining as export companies are looking to expand to other ASEAN nations, and not just simply invest in one country, to ensure business continuity in the event of another global crisis. We are hopeful that this will mean more business opportunities for the country and more job opportunities for the Filipino people.”

Ms. Plaza told BusinessWorld on April 1 they would cut their 2020 investment projections after initially targeting 5-10% growth. Committed investments fell by 16.19% last year.

On Tuesday, the PEZA chief called for a unified plan in addressing the coronavirus pandemic, citing that local government rules that do not comply with national guidelines, and which continue to hamper the mobility of goods and workers.

“Local government units should not separately address the pandemic and create invisible walls. Lockdown policies per island or per region greatly affect or hamper the flow of goods and mobility of workers because of the different executive orders imposed by the LGUs,” Ms. Plaza said.

DoF mulls tweaks to CITIRA bill

THE Department of Finance (DoF) is looking to tweak the Corporate Income Tax and Incentives Rationalization Act (CITIRA) proposal and allow the government’s incentive-giving body to provide “tailored” relief programs for firms hit by the coronavirus pandemic.

Finance Secretary Carlos G. Dominguez III said the DoF is reviewing the proposed CITIRA and floated the idea of giving the Fiscal Incentives Review Board (FIRB) the authority to craft programs that address specific needs of companies.

“CITIRA [proposal is] still under study, but one idea worth exploring is the possibility of granting the FIRB the flexibility of tailoring programs to the needs of individual companies,” Mr. Dominguez told reporters via Viber on Wednesday, stopping short of giving other details.

This came after acting Socioeconomic Planning Chief and former Finance Undersecretary Karl Kendrick T. Chua said he is in favor of continuing the administration’s Comprehensive Tax Reform Program (CTRP) but with some revisions to provide relief to sectors hardest hit by the coronavirus disease 2019 (COVID-19) pandemic.

“Ako po ay naniniwala na ituloy dapat ang comprehensive tax reform pero siguro, may konting dagdag o pagbabago para matulungan ’yung mga naapektuhan ng COVID-19 (I believe we should continue the CTRP but maybe with some changes to help those affected by COVID-19),” Mr. Chua said during the Laging Handa briefing aired on People’s Television Network (PTV-4) on Wednesday.

The CITIRA bill, which aims to gradually lower corporate income tax to 20% and streamline the tax incentive system, is still pending before Congress, which is scheduled to resume its session on May 4.

Under the bill, the FIRB’s coverage will be expanded to include approval of tax incentives for private businesses in addition to its current mandate to grant tax subsidies to state-owned firms.

FIRB, an interagency committee chaired by the DoF, is proposed to act as an oversight body for the 13 investment promotions agencies (IPAs). Currently, the Philippine Economic Zone Authority (PEZA) and other IPAs are authorized to grant incentives to businesses located inside the special economic zones.

Mr. Chua, who once led DoF’s team that lobbied for tax reform measures in Congress, explained the remaining packages of the CTRP have to be passed as these will provide additional revenues for the government to pay off debt accumulated for its massive spending for COVID-19 response and relief measures.

He said these loans are certainly “not free” and will have to be paid back somehow by future generations. The government would have to weigh the best option, whether to borrow more money or raise taxes in order to repay the loans, he said.

“Kung hindi po tayo magpapasa ng tax reform, ibig sabihin niyan, sa dami ng kailangan tulungan, ay uutang po tayo… Ang ibig sabihin ng utang, hindi natin babayaran ito ngayon sa pamamagitan ng buwis, ’yung mga anak o apo natin ang pinapabayad natin ng inutangan natin. Kaya ’yung desisyon natin whether to borrow money or raise taxes, kailangan pag-aralan kung ano ’yung pinakamagandang balanse,” Mr. Chua said.

Aside from tax revenues, the NEDA chief said the government also has savings from the efficient use of funds, dividends as well as excess income remitted to the national government by state-owned firms.

The government has passed three tax laws so far under the Duterte administration: the Tax Reform for Acceleration and Inclusion law (TRAIN) and the two consecutive increases in sin taxes — Republic Act (RA) No. 11346, which raised excise taxes on tobacco products, and RA No. 11467, which further raised excise taxes on electronic cigarettes and alcohol products.

Other pending measures under the administration’s tax reform program include the Passive Income and Financial Intermediary Taxation Act; the proposal to provide a uniform framework for real property valuation and assessment; and the bill increasing government’s share from mining revenues. — Beatrice M. Laforga

Asia CEOs paint bleak outlook amid pandemic

MORE business leaders in Asia think their companies may not survive the coronavirus pandemic compared to other global chief executives, a new survey showed on Wednesday.

Nearly 180,000 have been killed in the pandemic, which has led to unprecedented lockdowns of major cities around the world and is expected to plunge the global economy into its worst crisis since the Great Depression in the 1930s.

The latest Chief Executive Global Survey by YPO, an international group of more than 29,000 business leaders, said 15% of chief executive officers (CEO) from North and Southeast Asia reported that their businesses are under severe threat and are at risk of not surviving, compared to 11% of global CEOs.

CEOs from the mentioned Asian regions also expect a drop in revenues, with 51% saying that they expect a decline of at least 20%. Globally, 43% reported the same.

But chief executives in Asia are slightly more optimistic about the number of their employees remaining the same by next year, with 54% in North and Southeast Asia reporting this compared to 51% globally.

A quarter of global chief executives expect their employee count to fall by more than 20%, with 24% of business leaders in Asia reporting the same.

The survey conducted on April 15-19 drew insights from 3,534 chief executives from 109 countries.

YPO said the report, its second COVID-19 report following the initial March survey, was done to gain a deeper understanding of the impact of the pandemic on businesses globally, including how their perspectives have shifted over the past month.

Among the surveyed leaders, 84% said their business outlook is more negative compared to their outlook on March 1, with 56% saying that it has become significantly more negative. Only 9% said their business outlook improved.

In North and Southeast Asia, 54% said their outlook is significantly more negative since the beginning of March.

Broken down by sector, the global hospitality and restaurant industry took the biggest hit with 91% saying that their business outlook worsened significantly. This was followed by 82% in the automotive sector, 80% in aerospace/aviation, 76% in media/entertainment, 73% in wholesale sales, and 68% in real estate.

More than 60% of the chief executives expect a U-shaped curve, or a sharp recession with a longer recovery.

Almost two-thirds or 64% expect the negative effects on revenues to continue at least one year from now, while 16% expect higher revenues in a year.

“Across the globe, the mindset of the business leader is clearly that the world has changed in a very short space of time,” Scott Mordell, YPO’s chief executive, was quoted by Reuters as saying.

“We are in unchartered waters, filled with an unprecedented number of pitfalls, that are challenging some businesses’ very existence.”

The International Monetary Fund (IMF) has projected the global economy would shrink by 3% this year, likely the steepest dive since the Great Depression.

As of April 22, confirmed global COVID-19 cases have exceeded 2.5 million, with 177,000 deaths from the disease and almost 600,000 recovering. — Jenina P. Ibañez with Reuters

Major exporters pledge to avoid disrupting global food supplies

SOME of the world’s largest agricultural exporters are growing concerned that the coronavirus pandemic has caused a worrisome rash of government policies that threaten to disrupt the global supply of food.

In order to prevent a food crisis, a group of nearly 50 governments is preparing to sign a pledge aimed at ensuring supply chains remain orderly and that officials exercise restraint with any trade restrictions.

The initiative is critical, according to the group — which includes the European Union (EU), Canada, Japan and Brazil — because the threat of successive export bans aimed at protecting domestic food production could lead to soaring prices and shortages. There’s plenty of food to go around, as long as protectionism doesn’t become more entrenched, it said.

Export restrictions would “adversely affect food availability and result in price spikes, increased price volatility, and lead to shortages of important food products,” according to a draft of the agreement circulating among World Trade Organization members in Geneva, a copy of which was obtained by Bloomberg.

“The adoption by many members of successive export restrictive measures to secure its own food security would lead to a widespread food insecurity crisis due to the disruption in global agricultural trade supply chains,” the document states.

The paper recommends a set of eight policy actions that governments can take, including keeping supply chains open and connected; avoiding export restrictions and unjustified trade restrictions on food; and ensuring any emergency restrictions are targeted, proportionate and temporary.

Participants in the agreement include: the EU, Japan, Brazil, Canada, Australia, Mexico, South Korea, New Zealand, the UK, Switzerland, Qatar, Chile, Costa Rica, Colombia, the Philippines, Hong Kong, Malawi, Singapore, Ukraine, Paraguay and Uruguay.

As of Tuesday afternoon, the US, China, India and Russia had not signed on to the initiative.

Though the measures are non-binding, the pact is viewed as an important initiative aimed at making sure the health crisis doesn’t spawn a food emergency.

The coronavirus has already brought into sharp focus the fragility of international supply lines for essentials like food and medical goods, and many governments are actively reassessing the security of their domestic food stockpiles.

Over the past month roughly a dozen countries have imposed COVID-19-related export bans on agricultural products like buckwheat, onions, garlic, legumes, eggs, beans and certain grains.

Such measures are unwarranted because there’s no food crisis, at least not yet, according to the group.

“Lessons from previous crises have taught us that export restrictions increase food insecurity for vulnerable populations,” according to the group’s draft agreement. “The world’s poor, including agricultural workers, would bear the brunt of increased export restrictions.”

Generally, global food supplies are in good shape and global cereal stocks are expected to reach their third-highest level on record this season, according to a recent report issued by the Rome-based Agriculture Market Information System.

Last month, EU Trade Commissioner Phil Hogan told G-20 leaders that “there is no global supply shortage at this time” and food export restrictions are “completely unjustified.”

Nevertheless, movement restrictions aimed at curbing the spread of coronavirus could limit the availably of migrant labor to pick crops, disrupt food processing and transportation, increase delivery times, boost prices and reduce availability of even the most basic food items, according to a report issued Tuesday by the UN Food and Agriculture Organization and World Food Program. — Bloomberg

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