Fil-Chi businesses see minimal omicron impact if contained in first quarter

ABS-CBN News

Posted at Jan 13 2022 03:00 PM | Updated as of Jan 14 2022 09:08 AM

A man poses for photos inside the Lucky Chinatown Mall in Manila on June 8, 2021. George Calvelo, ABS-CBN News
A man poses for photos inside the Lucky Chinatown Mall in Manila on June 8, 2021. George Calvelo, ABS-CBN News

MANILA - The president of the Filipino-Chinese Chambers of Commerce and Industry Inc said their group remains bullish about economic growth this year despite the recent surge in COVID-19 infections. 

Henry Lim Bon Liong, president of FFCCCII, said they expect the economy to grow 6.5 percent to 7.5 percent this year if the surge is contained in the first quarter. 

“Of course, the omicron has put a dampening effect on this one, but as I see, and I feel the pulse of our organizations, as long as it doesn’t go beyond the first quarter, it can be 6.5 percent,” Liong said.

“If it goes beyond the first quarter, then we have to amend,” he added. 

Business groups have warned the government against further tightening quarantine restrictions, saying this may weigh down businesses that have just started to recover from the lockdowns imposed in the past 2 years. 

Liong meanwhile noted the strong net inflows of foreign direct investments last year, and said that new measures further opening the economy to foreign investors will aid economic growth.

- Report from Warren de Guzman, ABS-CBN News