While the COVID-19 crisis had created a lot of uncertainty, the Philippine economy could be shielded from further disruptions, said Sabin Aboitiz, Aboitiz Group president and chief executive officer, in an emailed news release.
“One sure way to keep the economy stimulated is the immediate implementation of the government’s infrastructure program, especially the projects of national significance,” he said. As an example, he cited Transportation Secretary Arthur P. Tugade’s instruction to the Civil Aviation Authority of the Philippines and the Manila International Airport Authority to defer the collection of take-off, landing and parking fees of local airlines.
These included sourcing from local manufacturers all raw materials, like cement and steel, for its infrastructure projects; and hiring more locals for projects in the provinces.
Source: Financial Digest (financialdigest.net)
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