Mandaue on road to economic recovery

CEBU, Philippines —  Economic activities in Mandaue City are slowly getting back with the business community starts moving forward to recovery as the industrial city have already transitioned to general community quarantine.

Steven Yu, president of the Mandaue Chamber of Commerce and Industry, said the city’s “strong industrial base” has helped “balanced out” the economic challenges brought about by the COVID-19 pandemic.

“We are now on GCQ. Businesses have started to reopen and the industries have started to ramp up their capacities,” Yu said during a virtual interview streamed on the Facebook page of the Office of the Presidential Assistant for the Visayas (OPAV).

According to Yu, the pandemic has significantly slowed down economic activities in the city from April to May.

“Recovery is in progress now but much still needs to be done to return to pre-COVID levels,” he said.

 While the city was not spared from the adverse economic impact of COVID-19 crisis, Yu pointed out that Mandaue “is blessed to have a strong industrial base.” He said a big part of its industrial sector includes manufacturers of essential goods and services, which are in demand during the community quarantine. 

Mandaue City is home to a number of processed food manufacturers and exporters.

"Although we have tourism and retail shops that were affected but at least it was balanced out with our industrial businesses and BPOs,” he said.

 Industrial companies, Yu said, have been operating at an average of 70 percent capacity in recent months, although this is little bit lower compared to pre-COVID levels.

While the business community is hopeful on the continued recovery of the economy, Yu stressed that vigilance is very much needed especially that most businesses now operate in the new normal environment.  FPL (FREEMAN)