Concepcion talks about state of PH economy

The Manila Times

Concepcion talks about state of PH economy  Businessman Jose 'Joey' Concepcion 3rd, Go Negosyo founder, speaks during a news forum at the Kamuning Bakery Cafe in Quezon City, on Thursday, Sept. 21, 2023. Concepcion, who heads President Ferdinand Marcos Jr.'s Private Sector Advisory Council and CEO of RFM Corp.,  spoke about the state of the Philippine Economy, SMEs, food inflation, wages and other job-related issues.  VIDEO BY JOHN ORVEN VERDOTE  Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe    Visit our website at https://www.manilatimes.net    Follow us:  Facebook - https://tmt.ph/facebook  Instagram - https://tmt.ph/instagram  Twitter - https://tmt.ph/twitter  DailyMotion - https://tmt.ph/dailymotion    Subscribe to our Digital Edition - https://tmt.ph/digital    Check out our Podcasts:  Spotify - https://tmt.ph/spotify  Apple Podcasts - https://tmt.ph/applepodcasts  Amazon Music - https://tmt.ph/amazonmusic  Deezer: https://tmt.ph/deezer  Stitcher: https://tmt.ph/stitcher Tune In: https://tmt.ph/tunein   #TheManilaTimes  #Philippines #economy  #inflation  #wages

Transcript

00:00 One who are still skeptical that whether the Philippines is on the right track.

00:07 Remember, previous to President Marcos becoming our President today,

00:18 we encountered one very big crisis, which was the pandemic.

00:25 And that happened in basically starting 2019, 2021, and still up to 2022, you've got the effects.

00:35 So, this was really hit by the small businessmen.

00:42 And for them to come back, it took time.

00:48 Because their loans in the bank, and of course, they borrowed from microfinance at that time, it took that time.

00:58 And of course, if a business is closed for over one year and a half, it's really hard.

01:09 So, we have to do business with the Department of Trade and Industry, Department of Agriculture.

01:19 We always have to be positive. That's what I'm saying here.

01:24 Sometimes, we see in the news, it somehow affects the confidence of a business owner

01:32 because they don't have to accrue a lot of problems. We have problems, but there is a solution.

01:39 Of course, we have good people in government working.

01:43 But if you add the entrepreneurial drive, the vision of these people, they have all been successful.

01:51 So, they know our problems in our country.

01:56 This is a big plus that I see. The private sector is taking a role in helping the government push our economy forward.

02:10 The senators and the congressmen have their own views that the people need wage increase.

02:17 But I think we have to try to achieve a balance.

02:21 We have to see if our economy is indeed growing and business is coming back really strong,

02:31 then there is no reason why wages could not be increased.

02:36 Right now, each company, like us, we have our CBE. So, that addresses that.

02:44 [Silence]

02:48 [Mouse click]

02:50 [Bell ring]

02:52 [Silence]

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