A campaign prioritizing local goods and services would help mitigate the impact of the new coronavirus disease 2019 to the economy, according to the Philippine Chamber of Commerce and Industry (PCCI) and the Philippine Exporters Confederation (Philexport).
Philexport said Pinas Muna! will help revive or restart seriously ailing micro, small and medium enterprises (MSMEs) which have lost their markets due to the economic slowdown.
PCCI president Benedicto Yujuico said Pinas Muna! can be the integrating campaign of many government and private sector programs aimed at encouraging Filipinos to avail of local products and services such as Go Lokal of the Department of Trade and Industry, Pasyal Na! for helping promote domestic tourism, Sarap Pinoy! for pushing local food products and a myriad of other campaigns.
Sergio Ortiz-Luis Jr., Philexport president, said most of the country’s exporters are now looking at domestic markets for their products as the global markets remain depressed.
“ We will not discriminate against imported goods, but in the short-term, we are left of little options but to patronize local goods and services,” Ortiz-Luis said.
Yujuico said Pinas Muna! can also be regarded as a job-saving strategy so MSME can restart their economic activities.
Meanwhile, Philippine business leaders are advocating to their counterparts in the Asia-Pacific for financial inclusion to support the small and medium enterprises (SMEs) during these times.
Philippine representatives are joining the Asia-Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC) in developing specific recommendations to address the health and economic impacts of the COVID-19 pandemic in the region.
ABAC PH member Francis Chua bats for more strategic interventions for small businesses.
“What our SMEs need is not temporary relief, but support mechanisms to build their capacities, to have access to finance and to tap new markets,” Chua said.
ABAC’s recovery plan focuses on four critical issues: strengthening digital connectivity, ensuring supply chain resilience, promoting open markets for goods and services, and supporting micro, small and medium enterprises (MSMEs).
The final discussion this June would consolidate the recommendations this month,