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The CEO of an Ayala company said the government should not depend everything on the private sector in trying to survive the health crisis.
It wouldn’t be sustainable, said Arthur Tan, CEO of Integrated Micro-Electronics Inc., who called this overdependence “false hope.”
It wouldn’t be sustainable, said Arthur Tan, CEO of Integrated Micro-Electronics Inc., who called this overdependence “false hope.”
The company has manufacturing operations in other parts of the world, producing electronics for the automotive, the industrial, and the aerospace market.
This has shown Tan how other countries responded to the crisis, doing more in areas where the PH may have stopped short. |
This has shown Tan how other countries responded to the crisis, doing more in areas where the PH may have stopped short. |
In the company’s experience, the Philippines may be the only one which had banned public transporation during the lockdown.
Moreover, China subsidized IMI nearly $2M to keep paying its workers in one of its factories, after its operations were closed because of the lockdown.
Moreover, China subsidized IMI nearly $2M to keep paying its workers in one of its factories, after its operations were closed because of the lockdown.
“Is that something I expect out of the Philippines? Probably not. We have our own set of problems,” he said.
He said should look at the issue not just from a health perspective, but from an economic one as well, because the economy supports people.
“I think that is important.”
He said should look at the issue not just from a health perspective, but from an economic one as well, because the economy supports people.
“I think that is important.”
“But constantly just giving away everything, or asking private industry to support everything, is not gonna be sustainable,” he said.
He said this during the first online general membership meeting of the Management Association of the Philippines on Tuesday. | @roycanivel_inq
He said this during the first online general membership meeting of the Management Association of the Philippines on Tuesday. | @roycanivel_inq
“I mean, we all want to help. But if the idea is that we’re going to help to the level that there will no longer be an economy to come back to, I think that’s false hope,” he said. | @roycanivel_inq
During the lockdown, the government has been reliant on what the private sector could do, especially in the beginning.
All of a sudden, many companies in essential businesses were expected to provide free lodging and free transportation for their workers. | @roycanivel_inq
All of a sudden, many companies in essential businesses were expected to provide free lodging and free transportation for their workers. | @roycanivel_inq
On April 12, the Department of Labor and Employment even asked businesses to keep paying their workers during the lockdown.
But if big companies are already struggling, what more the MSMEs which do not have any means to earn, therefore have nothing to pay their workers with?
But if big companies are already struggling, what more the MSMEs which do not have any means to earn, therefore have nothing to pay their workers with?
