PAMPANGA Chamber of Commerce and Industry Inc. (PamCham) president Rene Romero assured that Pampanga's business sector will see some signs of improvement, though very gradual, on the first quarter of 2021, as it adapts and rebounds from the effects of the coronavirus pandemic.
But Romero was not mincing his words when he said that a considerable number of industries and businesses, around 30 percent, have closed shop, with more than half most likely not to open anymore.
He said businesses that have weathered the storm of the pandemic's fiscal effects are in the best condition to show recovery this coming fiscal year.
"More stable industries will see more signs of improvement this coming year. It will still be survival for those in unstable footing," Romero said, adding that businessmen are taking their chances now on new business models that are more adapted to restrictions and require far less customer contact.
Romero said a stimulus package, too, from the government may or may not come, so it would be prudent for businesses to continue to keep paddling on their own resources while awaiting for better prospects when all restrictions are lifted.
"There is a big impact on the local industries if we have a vaccine ready. Surely the mere announcement would have a boost in business confidence in the local industries," the businessman said, stressing that the availability of a vaccine for coronavirus would have a direct effect on the local economy.
He said the implementation of vaccination programs for frontlines and essential personnel would drive local economies as a considerable number of people would be able to go back at least to some extent of normalcy.