The consolidated Philippine Economic Stimulus Act (PESA) House Bill 6815, also known as the Accelerated Recovery and Investments Stimulus for the Economy of the Philippines (ARISE Philippines Act), seeks to ensure business continuity and aid the recovery of critically-impacted businesses brought about by the afflicting impacts of the COVID-19 pandemic.
Surveys conducted on exporters by the DTI-Exporters’ Marketing Bureau and Philippine Exporters’ Confederation Inc. (Philexport) have manifested results that while numerous micro, small, and medium exporters are struggling from monetary losses, respondents also recommend that the Government should provide financial assistance through Stimulus Packages.
PESA Bill interventions allow critically-impacted formal and informal MSME exporters, including start-ups, freelancers, and the self-employed, to incur wage subsidies for two months with labor retention clause, interest free-loans, credit mediation, e-wallets, subsidies for education, grants for technical assistance, and structural reforms for economic resilience.
The P1.3-trillion economic stimulus package was introduced by Hon. Stella Luz A. Quimbo, and co-authored by 256 legislators in the Congress. With the support of the Export Development Council, the Department of Trade and Industry (DTI), and Philexport, the Bill was successfully passed in its final reading at the House of Representatives. –KJCS
The Export Development Council (EDC) re-grants Philippine Exporters Confederation, Inc.’s (PHILEXPORT) accreditation as the dominant umbrella organization of Philippine exporters during its first ever virtual Joint Council and Executive Committee (EXCOM) Meeting via ZOOM.
The meeting was graced by the Council and EXCOM members from both the government and private sectors. All the members from government agencies were represented, namely the Department of Trade and Industry (DTI), National Economic and Development Authority (NEDA), Department of Finance (DOF), Bangko Sentral ng Pilipinas (BSP), Department of Science and Technology (DOST), Department of Agriculture (DA), Department of Foreign Affairs (DFA), and Department of Labor (DOLE). Also, representatives from the Office of the President (OP) were in attendance.
The National Economic and Development Authority (NEDA) and the University of the Philippines Public Administration Research and Extension Services Foundation Inc., Regulatory Reform Support Program for National Development (UPPAF-RESPOND) has officially turned over the Supply Chain Analytics (SCAn) Dashboard and launched the Incident Reporter Mobile Application last 21 May 2020 at the National Incident Command Center in Camp Aguinaldo.
The Small Business Corporation’s (SBCorp) CAREs (COVID-19 Assistance to Restart Enterprises) Program is part of the government’s economic relief program for micro and small enterprises affected by the COVID-19 pandemic. Ms. Luna Cacanando, SB Corp President and Chief Executive Officer informed that the Department of Trade and Industry (DTI) has allocated P1.5 Billion loan program to help cushion the economic impact to businesses brought about by the pandemic. This was proclaimed during a zoom meeting last 28 May 2020, organized by the Philippine Exporters Confederation, Inc. (PHILEXPORT) to help the agency in the dissemination of information for the said program.
As the COVID-19 pandemic become a hindrance to workers to sustain their everyday living, the Department of Labor and Employment (DOLE) highlighted the implementation of its COVID-19 Adjustment Measures Program (CAMP) to address gaps for the affected workers. CAMP serves as a safety net program of financial support to affected workers in private establishments that have adopted flexible work arrangements or temporary closure. The program was intended to mitigate the economic impact of reduced income due to the pandemic.
The Technical Education and Skills Development Authority (TESDA) gears up to adapt the “new normal” after the COVID-19 pandemic through its “OPLAN TESDA ABOT LAHAT – TVET towards the New Normal” Operational Plan. In continuous support to the Philippine Export Development Plan 2018-2022, as directed by Memorandum Circular No. 27, TESDA continue to oversee policies on the prioritization and implementation of technical vocational education and training (TVET) amidst the Covid-19 pandemic.
Amid the global health crisis brought by the COVID-19, the Philippine Government agencies continue to support the export industry as they continue to implement their existing programs in assistance for the Micro, Small, Medium Enterprises (MSMEs).