Tsinoy business group urges more tourism investments
Credit to Author: Tyrone Jasper C. Piad| Date: Tue, 11 Feb 2020 13:00:11 +0000
THE government and private sector should increase their investment in local tourism as tforeign tourist arrivals fall on account of the outbreak of 2019 novel coronavirus acute respiratory disease (2019 nCoV ARD), the Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII) said on Tuesday.
“The FFCCCII urges government and all sectors to invest and upgrade Philippine tourism facilities during [the] slowdown in arrivals….” FFCCCII President Henry Lim Bon Liong said in a statement.
The statement comes after several airlines have canceled flights to and from China and its nearby territories as a safety precaution.
First breaking out in the city of Wuhan in China’s central Hubei province last December, the virus claimed more than 1,000 lives, including one in the Philippines; infected more than 42,000; and spread to more than two dozen countries as of Tuesday.
The group said it maintained its gross domestic product (GDP) growth forecast of 6.5 percent for this year despite the outbreak affecting tourism and trade.
Prior to the outbreak, FFCCCII pegged GDP growth at between 6.5 and 7.5 percent.
“We are still at the start of the new year. There are still hopes of the whole world coming together cooperating with our major trading partner, China, in winning this war against nCoV,” Lim said.
“We also believe that the economic and demographic fundamentals of the Philippines are very strong. Also we have faith in the government’s enlightened macroeconomic and fiscal reforms, which support resilient and inclusive economic growth,” he added.
Lim also said his group was also optimistic that the Asian economy would be able to recover quickly from the setback caused by the coronavirus.
The Chinese-Filipino business community remains keen on investing in the Philippines, noting that sentiment is still upbeat because of the government’s massive infrastructure drive, according to him.
“We [Chinese-Filipino] entrepreneurs are long-term investors and are patient. Our community has weathered centuries of [the] tumultuous past ups and downs of the Philippines,” the FFCCCII chief said.
Lim also urged the public to refrain from spreading false information about the virus, as this could cause unnecessary panic.
“We call upon the public to remain calm and vigilant, cooperate with government authorities, promote daily health and good hygiene practices, uphold social peace and political stability, refrain from spreading unverified information or fake news and any racist defamations harmful to society,” he said.