Recovery at the forefront
BusinessWorld virtual forum tackles pandemic rebound outlooks, strategies
ALMOST TWO YEARS after the coronavirus disease 2019 (COVID-19) pandemic struck the world, discussions are beginning to shift from how the pandemic has disrupted organizations and sectors to how businesses, governments, and society should move forward in the now normal.
BusinessWorld has been at the forefront of continuing these meaningful discussions on pandemic recovery when it held this year’s BusinessWorld Virtual Economic Forum, with the theme “Recovery Roadmap PH 2022 and Beyond” last Nov. 24 to 25.
The two-day virtual forum brought together international and local industry experts, government officials, and thought leaders to share their insights on recovery prospects in the Philippines, across the globe, as well as among industries.
Miguel G. Belmonte, president and chief executive officer (CEO) of BusinessWorld, cited the emerging positive picture from reducing COVID-19 cases and accelerating vaccination drives to have inspired this year’s theme.
“As we watch with bated breath case rates going down and the pace of vaccinations speeding up, we are all excited to leave the sordid chapter behind so we can all face the future fearlessly,” Mr. Belmonte said during the first day of the forum.
BusinessWorld Executive VicePresident Lucien C. Dy Tioco, meanwhile, shared during the second day that BusinessWorld “found an opportunity to use this event as a platform to start and continue the discourse about the most pressing issues that all of us as government and private sector
leaders need to discuss and act on now before it’s too late — climate change, sustainability, inclusion, resiliency, our future, among others.”
RECOVERY PROSPECTS
Mr. Belmonte also shared in his opening remarks that while “the long road to our country’s full recovery will still be full of bumps and turns, experts see many signs of hope — the so-called light at the end of the tunnel.”
Likewise, this was largely the outlook shared, albeit with some pointers for caution, throughout the two-day forum.
Changyong Rhee, director for Asia and Pacific (APAC) Department at International Monetary Fund (IMF), kicked off the forum as he shared global economic growth prospects. He started by sharing a dragged yet solid global growth projection of 5.9% this year, which is led by growth in the United States, China, and India, although unstable recovery in China and strong challenges facing Southeast Asia are seen.
“We project that global recovery continues to be dragged by the pandemic, with the Delta variant and supply chain disruptions weighing on growth,” Mr. Rhee explained.
Meanwhile, Mr. Rhee noted that the Philippine economy