Connect with us

Business and Economy

Businesses can’t afford another lockdown: ECCP

Published

on

About 75 percent of the respondents also expressed they are dissatisfied over the current measures and economic stimulus efforts of the Philippine government. (Pexels photo)

MANILA – It will be harder for businesses to survive and recover if the government will extend stringent community quarantine, European Chamber of Commerce of the Philippines (ECCP) president Nabil Francis said on Thursday.

In a webinar and press conference, Francis said the current modified enhanced community quarantine (MECQ) should be the last and the government should start to ease restrictions.

“No, it cannot happen,” Francis answered when asked if businesses could survive an extended MECQ after August 18.

Metro Manila, Bulacan, Cavite, Laguna, and Rizal reverted to MECQ since August 4.

He said lockdowns are measures to help boost the healthcare capacity of the country while slowing down the spread of the virus.

online pharmacy buy zofran with best prices today in the USA

“Our recommendation would be to ease the restrictions starting from mid-August. Otherwise, the longer we close, the more difficult the recovery is going to be,” Francis said, adding the Philippines has the longest and hardest lockdown.

online pharmacy buy zithromax with best prices today in the USA

The ECCP released during the webinar the results of its survey on impacts of Covid-19 on European businesses in the Philippines, wherein 56.6 percent of the respondents said the pandemic has high impact on their businesses.

Majority of the respondents cited that travel restrictions, reduced demand, and business cash flow are among the top concerns for European firms here.

About 75 percent of the respondents also expressed they are dissatisfied over the current measures and economic stimulus efforts of the Philippine government.

European enterprises also called for government support, such as fast-tracking internet and infrastructure improvements, further ease of doing business, as well as providing tax breaks and extending tax filing.

The survey also reported that 57.2 percent of European businesses “put on hold additional investments” and “delay investment decisions or implementation”.

“We might not have seen the worst yet,” Francis said, adding the uncertainties for new projects in the pipeline.

“If you put yourself in the shoes of the investor and you don’t see the light in the tunnel, it’s hard for you to put the money in the economy,” he said.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Maria in Vancouver

Lifestyle2 weeks ago

Nobody Wants This…IRL (In Real Life)

Just like everyone else who’s binged on Netflix series, “Nobody Wants This” — a romcom about a newly single rabbi...

Lifestyle3 weeks ago

Family Estrangement: Why It’s Okay

Family estrangement is the absence of a previously long-standing relationship between family members via emotional or physical distancing to the...

Lifestyle2 months ago

Becoming Your Best Version

By Matter Laurel-Zalko As a woman, I’m constantly evolving. I’m constantly changing towards my better version each year. Actually, I’m...

Lifestyle2 months ago

The True Power of Manifestation

I truly believe in the power of our imagination and that what we believe in our lives is an actual...

Maria in Vancouver4 months ago

DECORATE YOUR HOME 101

By Matte Laurel-Zalko Our home interiors are an insight into our brains and our hearts. It is our own collaboration...

Maria in Vancouver4 months ago

Guide to Planning a Wedding in 2 Months

By Matte Laurel-Zalko Are you recently engaged and find yourself in a bit of a pickle because you and your...

Maria in Vancouver4 months ago

Staying Cool and Stylish this Summer

By Matte Laurel-Zalko I couldn’t agree more when the great late Ella Fitzgerald sang “Summertime and the livin’ is easy.”...

Maria in Vancouver5 months ago

Ageing Gratefully and Joyfully

My 56th trip around the sun is just around the corner! Whew. Wow. Admittedly, I used to be afraid of...

Maria in Vancouver6 months ago

My Love Affair With Pearls

On March 18, 2023, my article, The Power of Pearls was published. In that article, I wrote about the history...

Maria in Vancouver6 months ago

7 Creative Ways to Propose!

Sometime in April 2022, my significant other gave me a heads up: he will be proposing to me on May...