Reverting the National Capital Region to alert level 3 due to rising new coronavirus disease-2019 (COVID-19) cases is tempering business optimism that normally marks the beginning of every year.
“I would say (there will be) cautious optimism. Alert Level 3 suggests there can be minor speed bumps,” said Trade Secretary Ramon Lopez in a text message, on the effect of the Omicron variant to the economic recovery of the country.
Lopez did not give estimates on possible revenue and job losses over the next 13 days the NCR will be on higher alert status but said the difference between alert levels 2 and 3 in terms of sectors covered and their corresponding capacities is minimal.
Lopez said optimism on recovery remains. “The economic fundamentals are present, major reforms and economic indicators are showing rebound, but the Omicron threat looms…,” he added.
Business leaders echoed Lopez’ sentiment, saying the beginning of 2022 will be met with cautious optimism.
Ortiz-Luis said the heightened alert level should be accompanied by other measures that will ensure the health care system is not overwhelmed such as accelerating vaccination rollout and diverting funds for contact tracing to free testing.
He also called on the need to be more strict in allowing the entry of travelers from overseas.
Francis Chua, president of the International Chamber of Commerce of the Philippines, said businessmen are always hopeful in each new year and noted the prompt action of government in imposing stricter quarantines will bring a lot of confidence to the business community.
“The fact that trading can still proceed with no restrictions means DTI (Department of Trade and Industry) is doing its best to protect MSMEs (micro, small and medium enterprises) and help business,” Chua said.
NCR is placed on Alert Level 3 from today to January 15. Under Alert Level 3, establishments or activities shall be allowed to operate or be undertaken at a maximum of 30 percent indoor venue capacity for fully vaccinated individuals only and 50 percent outdoor venue capacity, provided that all workers of the establishments are fully vaccinated against COVID-19.
Intrazonal and interzonal movement are allowed although reasonable restrictions may be imposed by local government units.
Those below 18 years of age, and those belonging to the vulnerable population, shall be allowed access to obtain essential goods and services. Individual outdoor exercises shall also be allowed for all ages regardless of comorbidities or vaccination status.
Prohibited activities are face or in-person classes for basic education, contact sports, children amusement parks, live performances like karaoke bars, gaming and gatherings in residences with individuals not belonging to the same household.
