The Filipino-Chinese Chamber of Commerce Industry Inc. (FFCCCII) has turned more optimistic of the economy in 2022
From its original forecast of 6.5 percent growth in 2022 which it now calls conservative projection, FFCCI said the country can grow as fast as 7.5 percent in 2022.
“We’re very hopeful and optimistic of strong Philippine economic recovery next year with a GDP growth of 6.5 percent or even higher in 2022, because the Philippines has positive macroeconomic fundamentals, we now have much better modern infrastructures, we also have the solid bedrock of social stability and national unity,” said Henry Lim Bon Liong, FFCCCII president, in a press conference.
Lim said 2022 shall be a good year for economic recovery of Asia, most especially for the Philippines, adding the optimism stems from feedback on the ground of its members and business chapters
“Everybody is optimistic for recovery. We hopes the new (Omicron) variant will not affect us so much as we see COVID (new coronavirus disease) cases declining,” he said.
Lim said some of its members are reporting that sales in the last two weeks were even better than before the pandemic.
Lim also noted more jobs will be created in 2022 when more manufacturers will produce more goods due to increased spending.
Lim said the first two quarters of 2022 will especially be strong due to election spending.
The group reiterated its call for the new president to prioritize agriculture and education, without which no country can rise from poverty.
Lim said FFCCCII hs collaborated with the embassy of China in assisting farmers and fishermen increase their yield through training and donation of equipment.
FFCCCII said 11 of its member-organizations through the group’s calamity fund, donated
P12 million for Typhoon Odette victims in Visayas and Mindanao.
The Chinese embassy also donated P8 million and P128-million worth of rice (3.2 million). – Irma Isip
