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HomeFront PagePCCI Mindanao urges Economic Stimulus measures for business survival & continuity

PCCI Mindanao urges Economic Stimulus measures for business survival & continuity

The affiliate chambers of the Philippine Chamber of Commerce and Industry in Mindanao are urging government to prioritize a package of economic stimulus measures aimed at ensuring business survival and continuity during the 29th Mindanao Business Conference on September 10-11, 2020. 

The first ever virtual hosting of Mindanao’s biggest business conference of the PCCI will be hosted by the Davao Chamber of Commerce and Industry, Inc. (DCCCII) through online live streaming via ZOOM with a record audience expected to participate in the virtual event despite restrictions on travel and gatherings brought by the ongoing coronavirus pandemic.

“With theme, Mindanao: Journeying to the New Normal, we recognize the urgent need to boost confidence to overcome emerging challenges and opportunities,” said Ma. Teresa A. Alegrio, PCCI Area Vice President for Mindanao. “This stems from a deep understanding of what the new normal presents so that responses to meet them are carefully crafted.”

MinBizCon is an annual event organized by the PCCI that aims to create a venue for businessmen, key industry players, government executives, and other private sector leaders to discuss economic concerns and opportunities in Mindanao resulting to policy actions for the development of the region.

Through PCCI Mindanao Resolution no. 2020-004 (A Resolution Endorsing To The IATF-EID Proposed Intervention Measures For Business Survival And Continuity of Mindanao MSMEs and Other Industries) the 42 local Chambers of Mindanao will be requesting the National Government’s immediate and urgent intervention to prioritize a package of proposed recommendations aimed at ensuring  the business survival and continuity of Micro, Small and Medium Enterprises (MSMEs), in the manufacturing and industry, and agricultural sector.

MSME’s constitute over 90 percent of the number of business establishments nationwide and in Mindanao.

The resolution covers Health Care Capacity, Infrastructure, Economic Stimulus, Structural Reforms, Capacity Building, and Domestic Tourism.

The package of economic stimulus measures PCCI Mindanao is urging government to immediately undertake includes the following:

·        For the Department of Agriculture to prioritize strategic areas for modernizing agriculture due to the availability of raw materials in order to address food security as well as the supply chain for the manufacture of PPEs including Central Mindanao, Bukidnon, Lanao del Norte, Zamboanga del Norte, Tawi-Tawi, and South Cotabato;

·        For the Board of Investments (BOI) and LGUs to provide attractive incentives for companies investing in health care-related projects, including conversion of commercial spaces to quarantine facilities, construction of sanitary landfills and importation of special equipment for the safe and proper disposal of infectious and pathological wastes of hospitals and households;

·        For the Bureau of Internal Revenue (BIR) and the Department of Labor and Employment (DOLE) to acknowledge the BMBE law by exempting micro enterprises capitalized below P3M from paying income tax and mandatory compliance of minimum wage adjustments;

·        For Land Bank and DBP to extend/re-structure the loan terms and maturity dates of loans extended to micro-finance institutions so that the latter can provide re-start/re-open credit assistance to micro enterprises mostly engaged in retail enterprises or services (vendors, repair services etc);

·        For DILG to encourage LGUs to provide tax credits or discounts on Real Property Taxes (RPT) due from private companies who offer moratoriums on the payment of commercial rents and leases;

·        Institutionalize the KADIWA Express Food Logistics Program of the Department of Agriculture to promote farm to market linkages;

The foregoing proposals were extensively discussed across all the 42 Local Chambers of Commerce in Mindanao during several Regional Consultations with PCCI President Ambassador Benedicto Yujuico, PCCI Mindanao Area Vice President Maria Teresa R. Alegrio, and PCCI Regional Governors Arturo Milan (South Eastern Mindanao), Roderico R. Bioco (Northern Mindanao), Paul Gudmalin (Western Mindanao), Pete Marquez (Central Mindanao), Aldrin Ibbo (BARMM), Julie Senense (Eastern (CARAGA) Mindanao) and Loreta Sy (South Western Mindanao) with Promote NorMin Foundation President Elpidio M. Paras. (PCCI Mindanao)

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