Presidential adviser for entrepreneurship Jose Maria Concepcion III emphasizes the need for businesses to recover and be able to pay their debts in the last quarter of the year.
He calls for to open up more of the economy for businesses to recover.
MANILA — The entrepreneurship adviser emphasized the importance of the fourth quarter for businesses due to usually increasing consumer spending during the Christmas holidays.
“We have to open the economy because this is the last quarter. This is time when most negosyantes can get back what they lost in the previous months. Babayaran nila mga 13th month pay, mga utang nila sa bangko, sa suppliers [They will have to pay the 13th month pay, their loans in the banks, with suppliers],” he said during a virtual briefing.
The present 30-percent indoor dining allowed for fully vaccinated individuals in Metro Manila does not gain much for businesses.
Concepcion said this should be increased to at least 50% to carry businesses over to 2022, or even 70% by November or December,
“Ito ang panahon that we should start to live with COVID. Kung pabagsak ang [If there is a downtrend on the] trajectory ng infection level, then we should open up more and more and then keep an eye, watch out if it reverses then we pull back and we can push back,” he said.
According to the recent data from the Department of Health (DOH), the Philippines has used a total of 50.066 million doses as of 11 October 2021.
“Ngayon nakikita natin [Now we are seeing it]. We’re saying let’s open up, let’s be aggressive now, and let’s just be vigilant,” Concepcion said. (JD/The MiNT)