MAP sees most industries back to pre-COVID-19 levels by yearend

MANILA, Philippines — The Management Association of the Philippines (MAP) said most industries are now recovering and will likely be back to pre-COVID-19 levels by the end of the year.

MAP president Rogelio Singson said different industries are now reaping the benefits of economic recovery and easing mobility restrictions.

Singson said MAP is hopeful that “all sectors will be back to 2019 levels,” by yearend.

For next year, he said these industries would likely post better results compared to 2022.

“Overall, the outlook is positive,” Singson said yesterday on the sidelines of the MAP Annual General Membership Meeting and MAP Management of the Year 2022 Awarding Ceremony.

One sector that continues to face challenges, however, is real estate, Singson said.

This is because of the departure of many Philippine Offshore Gaming Operator (POGO) companies.

POGOs are under threat as lawmakers and policymakers are pushing for a total ban on POGOs, which experts said, would be detrimental to the office sector and continue to hurt the office sector.

MAP has been pushing for several recommendations to the government in different areas of business to enable economic recovery especially after a two-year debilitating pandemic.

Some recommendations include updating or crafting industry roadmaps in key industries with the greatest strategic importance or potential for massive job generation.

These include tourism, creative industries, agriculture and agribusiness, forestry, manufacturing, construction, responsible mining and BPO and MSMEs.

MAP is also pushing for a better investment climate.

“We need a favorable enabling environment for investments if we are to succeed in attracting greater and more diverse job- creating investments for more Filipinos to be gainfully and productively employed, so that overseas employment would merely be a choice for our workers, rather than a necessity. The enabling environment includes infrastructure adequacy, labor market and employment policies, fiscal and financial sector policies, and justice and the rule of law,” the MAP said.

MAP also continues to push for stronger government and private sector collaboration, including defining the objectives of different public private partnership (PPP) projects.

At the Pilipinas Conference 2022, Singson said the government must “clearly define the purpose and objectives of the different public and private partnership projects.”