The Department of Trade and Industry (DTI) expressed optimism amid the impact of COVID-19 on the country’s economy especially in the importation and exportation of products.
DTI Secretary Ramon Lopez shared that some big companies are planning to expand production in the country. The outbreak has taught some businessmen a lesson not to depend on a single country for resources.
“In a way, doon po pwedeng nagbe-benefit din ang Pilipinas. Dahil after that, nangyayari ‘yan, nagkakaroon sila ngayon ng reconsideration na ang Pilipinas as a site na maging supplier din tayo. Nagkakaroon ng pagbukas o mga interes na nag-indicate sa amin na willing magbukas dito (In a way, we may benefit from their reconsideration that the Philippines as a site for suppliers. There are also openings and interests that indicate their willingness to open here),” he said.
The trade secretary pointed out that the country’s economy has been running smoothly even if China is the top trading partner of the Philippines.
“Kung globally nags-slow down lalo na ang China – our No. 1 trading partner – maaapektuhan ‘yung export, at siyempre, may mga computation din maaapektuhan ‘yung growth, lalo na kung malaking natatamaan din ang tourism. Pero dito po sa atin, I would say na magkakaroon ng slow down, but we are hoping na positive pa rin ang growth (There may be a global slowdown, particularly in China which is our top trading partner. Export will be affected. Computations also show that growth will be affected especially since tourism has been hit hard. In the country, I would say that there will be a slowdown but we are still hoping for positive growth),” he explained.
The tourism industry has been the most affected by COVID-19 and the Department of Tourism (DOT) has worked doubly hard to address the problem such as the allocation of a Php 6 billion-fund for the agency’s programs.
“The DOT will be allocating PhP6 billion that will span international and domestic promotions, infrastructure, and regional development,” DOT Sec. Bernadette Puyat shared.
“Airlines started rolling out discounted flights around the country, and DOT-accredited hotels and resorts will be lowering their prices, and offering as much as 70% off their published rates,” she added.
Meanwhile, the President is set to visit Boracay this March. This will be his first visit since its rehabilitation. – Report from Mela Lesmoras
