DOF to consult private sector on COVID recovery plan

The government will consult the private sector and gather policy recommendations to help the economy recover from the slowdown caused by the COVID-19 pandemic, the Department of Finance (DOF) said.

DOF said the government is set to engage 600 participants from the Philippine Chamber of Commerce and Industry (PCCI) and other business organizations in the online Sulong Pilipinas Forum on Monday, June 8.

The forum will be hosted by the DOF and the National Economic and Development Authority (NEDA).

With the theme, “Partners for Progress,” the e-conference will serve as an opportunity for the business community to discuss and draft initiatives that the government and private sector could do to support industries and enterprises affected by the pandemic, DOF said.

DOF said Finance Secretary Carlos Dominguez is expected to discuss the current state of the Philippine economy and updates on the fiscal policies and initiatives the government has carried out or is planning to implement to restore business and consumer confidence in the country.

Meanwhile, acting Socioeconomic Planning Secretary Karl Kendrick Chua will present the Philippine Program for Recovery with Equity and Solidarity or PH-PROGRESO, which details the economic managers’ bounce-back plan for the domestic economy.

Sulong Pilipinas is a series of consultative conferences between the government and the private sector, which started in June 2016 President Duterte took over the administration.

This will be the second Sulong online conference this year, following the first virtual public consultation organized by the DOF and NEDA last month that was attended by over 400 youth participants from 100 schools and 35 student organizations nationwide.

The PCCI is the largest umbrella of business organizations in the country, representing an estimated 30,000 large, medium, small and micro-enterprises (MSMEs) nationwide.

The confederation earlier expressed support for the swift passage of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, which they said will introduce reforms to help businesses recover from the economic slowdown caused by the COVID-19 pandemic.