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Return to work to refuel the economy: Big business groups

MANILA, Philippines – Several of the country’s largest business groups and corporations have expressed their support for the government’s push for employees to return to work, arguing that it will help re-energize the economy, which has yet to fully recover from the pandemic’s impact.

“We now anticipate an increase in business activity that will benefit the entire country and accelerate its return to economic health. The path to recovery, we assert, begins with our country’s workers’ presence in business and commercial centers,” the cross-industry group said in a statement Monday.

The statement was signed by senior executives from the Chamber of Real Estate and Builders, the Federation of Filipino-Chinese Chambers of Commerce and Industry, the Financial Executives Institute of the Philippines, Go Negosyo, the Management Association of the Philippines, the Philippine Constructors Association, the Philippine Retailers Association, the Philippine Chamber of Commerce and Industry, and Resto Ph.

Additionally, executives from large firms such as Ayala Land Inc., Megaworld, Robinsons Land Corp., and SM Prime Holdings Inc. signed the letter.

According to the private sector, the high vaccination rate in Metro Manila and the low number of coronavirus disease 2019 (Covid-19) cases nationwide should instill confidence in workers’ ability to return to work.

Minimum public health protocols are also in place to safeguard against virus infection.

The multi-sectoral group noted that since November 2021, mall foot traffic has increased to 63 percent of its pre-Covid level, while fast food traffic has increased to 78 percent of its 2019 level.

On the other hand, Metro Rail Transit recorded 243,845 daily passengers or 69% of pre-pandemic levels.

“Economic momentum has been established, putting us closer to the prosperity we all experienced in 2019. We encourage members of the public to venture outside their homes while still adhering to safety protocols,” they added.

Business groups and large firms asserted that displaced industries can be restored once employees return to business centers, bolstering enterprise confidence.

According to the statement, the pandemic has impacted 423,075 construction workers; 464,841 lodging and food service workers; 492,067 transportation and storage workers; and 1.1 million tourism workers.

“Fully occupied business districts and commercial centers do indeed represent a positive and collective economic milestone,” the statement read.

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