WHILE the pace of the economic recovery hinges on the pace of the vaccine rollout, members of the Philippine Retailers Association (PRA)-Cebu Chapter already foresee a better second half as more economic frontliners get vaccinated.
Chester Lim, president of PRA Cebu, said the retail industry is not yet “out of the woods” but businesses continue to see signs of recovery.
“I can see some recoveries in the different sectors that have been struggling last year and they’re now doing a lot better compared to the same period last year. This is very encouraging,” he said during PRA Cebu’s 2nd General Membership meeting on Tuesday, June 29, 2021.
With the acceleration of the vaccination program, Lim said they expect Cebu’s economy to fully reopen soon.
Lim noted that 40 percent of the employees under PRA Cebu have already been vaccinated or are undergoing vaccination.
“We encourage everyone to continue educating our employees and at the same time promote the vaccination program,” he said.
Lim said the retail industry has gained vaccine confidence compared to three months ago.
Sixty-five percent of the employees of Belmont Retail, one of Lim’s companies, for example, have registered for vaccination compared, up from just 30 percent last March.
At present, 50 percent of Belmont Retail employees are fully vaccinated.
Of PRA Cebu’s 65 member-companies, 26 have already started getting their employees vaccinated while others are waiting for their schedule through the Project Balik Buhay (PBB).
The PBB Private Sector partnership had set up Department of Health-accredited but private sector funded-and-managed vaccination centers to augment the capacity of government vaccination centers.