Industry counting on vaccines for improved economy by December

SOLID PROGRESS on vaccination will be required if industry is to enjoy a healthy Christmas season, Presidential Adviser for Entrepreneurship Jose Ma. A. Concepcion said Monday.

In a Senate hearing, Mr. Concepcion said the lockdown “has caused a lot of pain” for many micro enterprises.

“The only solution really here is to solve the health problem,” he said in a Senate trade committee hearing on the effects of the pandemic on business.

He said the private sector is working with the government on a plan to improve the economy’s performance by Christmas and in 2022, which will hinge on inoculating more of the population.

“What we’re trying to do is how do we get to open the economy with 50% of the population already vaccinated. In September, October that should happen,” adding that it should be done as quickly as possible.

However, Mr. Concepcion flagged the possible spread of the more transmissible Delta variant which was first detected in India.

“What we have to look at is the issue on Delta variant this is the most serious variant that I think can really draw a curve ball and destroy our entire plan. We have to be careful in opening up especially our borders,” he said.

“In countries that have high level of Delta variant, because if that penetrates the Philippines then we will not be able to achieve a merry Christmas,” he added.

He said that hopefully, they can come up with recommendations when there is no Delta variant and 50% of the population vaccinated to the government for various industries.

Mr. Concepcion added that the banking community “will not lend if they don’t see the light at the end of the tunnel,” noting that the performance of service businesses such as restaurants, gyms, spas and retail is going to turn on any government decisions regarding capacity limits.

They will also be asking the government to allow greater mobility for the vaccinated “to spur the economy” and also allow establishment to create safe spaces to ensure the protection of both vaccinated and non-vaccinated customers.

“I think it’s a total plan, it hinges basically on the ability of both the private sector and the public sector, the LGUs especially to inoculate as fast as possible and achieve population protection; the ultimate goal is herd immunity for NCR plus. This we have to win in this year,” he said.

Mr. Concepcion also said that they are creating a roadmap detailing which industries can be opened assuming the arrival of a more transmissible variant.

He said there is a “good chance” of reviving the economy and opening up more by the end of this year.

Around 10 million doses have been administered as of June 27, according to the Health department, with over 2.5 million fully vaccinated individuals.

The government hopes to inoculate at least 500,000 people daily in Metro Manila, Rizal, Bulacan, Cavite, Laguna, Metro Cebu and Metro Davao to achieve herd immunity by Nov. 27. —