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Business Mirror : BBM highlights MSME role in PHL’s economic rebound

News & Interviews
19 October 2021

By Business Mirror

Allowing micro, small and medium enterprises (MSMEs) to operate again will help the country’s economy bounce back amid the pandemic crisis, according to former Senator and presidential aspirant Ferdinand “Bongbong” Marcos Jr.

The Partido Federal ng Pilipinas (PFP) standard-bearer said to achieve this goal, vaccinated workers and even business establishments that were closed down due to Covid-19 quarantine restrictions must be allowed to go back and continue their operations again.

“Let’s allow the small businesses to operate again because the economy will not move if there is no economic activity. There must be someone who will buy and avail of services because it has a multiplier effect that can help in the recovery of the economy,” he added.

“As long as they are vaccinated, let’s allow them to go out and work. Let’s give them a privilege since they are already safe,” Marcos said.

Almost two years into the pandemic, Marcos said, people want to land on jobs to support their families and while some are still employed, may not be earning due to lockdowns and restrictions imposed by the government. He added that some employees are even on a “no work, no pay” basis making it hard for them to sustain their daily living.

Data from the Philippine Statistics Authority (PSA) showed that 3.76 million Filipinos remained jobless since June 2021. The government said the 7.7-percent unemployment rate shows the limits of job creation due to quarantine restrictions, especially in the National Capital Region (NCR).

“If you look into the lives of Filipinos, they are looking for jobs right now as they need money to support their families. We need to have an extensive approach so that everyone will benefit,” he said.

Marcos said he believes there is a need for the creation of jobs once the country reaches herd immunity where almost 70 percent of the population  is fully vaccinated against the Covid-19.

“The opening of our economy must be well-planned in order for us to return to our normal lives,” he said.