Businessman: Visayan traders may have to triple investments-A A +A
Friday, December 6, 2013
CITY OF SAN FERNANDO – "With Super Typhoon Yolanda now the norm, our fellow traders in the Visayas may just to triple their investments as a protection to such calamities."
So opined businessman and Pampanga Chamber of Commerce and Industry, Inc. vice-chairman Rene Romero on Wednesday, in helping formulate rehabilitation plans for co-chamber members in affected areas in Visayas in the aftermath of the storm surge that saw traders fleeing and leaving their businesses because of looting and economic devastation.
Romero recently arrived from a relief mission in Tacloban City conducted by his group Land Rover Club of the Philippines.
"It is a very traumatic experience for our fellow businessmen there. The local economy is in near collapse and businesses on a down curve because of the storm surge that devastated a lot of areas. Even as the Philippine Chamber of Commerce and Industry has asked them to return to help in recovery efforts, many of those I talked to there were hesitant because of the disarray," he said.
Romero told Sun.Star Pampanga that businessmen there may have to increase their investments for protection against such natural but deadly calamities.
"Our fellow traders there may just have to double or even triple their investments during the rebuilding and recovery period. That means that the P1.0 million they put in will have to be two or three million more since infrastructure will have to be stronger and more secure. It is unfortunate but they said they are feeling the pinch now. Many are on a 'wait and see' mode for another typhoon cycle since Yolanda is the new norm. We are hoping though, that the government will assist them too, so that economic activity there will get back to normal soonest," he said.
Published in the Sun.Star Pampanga newspaper on December 07, 2013.