Top Filipino business leaders are frustrated over the snail-paced rollout of COVID-19 vaccination in the country.
Based on a survey among 178 chief executive officers across industries, PwC Philippines found that 66% of these business leaders are “dissatisfied” with the pace of vaccine jabs, saying it would be the biggest hindrance that delays economic recovery.
Some 70% of CEOs said they lose at least 10% in daily sales each time there’s any type of lockdown. Although 74% said their businesses will experience growth in the next year, CEOs are not as optimistic when it comes to overall recovery. The same survey showed that 78% of executives think the Philippine economy will take more than two years to get back to where it was pre-pandemic.
Based on survey results, other pressing issues on the minds of CEOs include political uncertainty in the runup to the 2022 elections, the government’s reliance on lockdowns to curb COVID-19 infections, the threats of new COVID-19 variants, and the lack of financial support to hard-hit business sectors.
According to the poll, CEOs want the government to invest more in developing the local healthcare system, followed by infrastructure and education.