MANDAUE CITY – The Mandaue Chamber of Commerce and Industry (MCCI) noted the economic recovery of the city as the business community here gets back on its feet with the strong industrial base that helped overcome the economic challenges of the coronavirus disease (COVID-19) pandemic that hurt the tourism industry, and retail businesses.
In a virtual press briefing Thursday with the Office of the Presidential Assistant for the Visayas (OPAV), MCCI President Steven Yu said that, with the city now under general community quarantine (GCQ), businesses have started to reopen, and industries have ramped their capacities.
“The city is the industrial hub of Cebu province, and the COVID-19 pandemic has significantly slowed down economic activities in the city during the April to May period. Recovery is in progress now but much still needs to be done to return to pre-COVID levels,” Yu said.
Yu also noted that while the city has not been spared from the adverse economic impact of the COVID-19 crisis, Mandaue was blessed to have a strong industrial base, and a big part of its industrial sector included manufacturers of essential goods and services, which are in demand during the community quarantine.
While Mandaue is home to several processed food manufacturers and exporters, Yu added, that “although we have tourism and retail shops that were affected, at least, these was balanced out with (the rebound of) our industrial businesses and business process outsourcing firms (BPOs).
Yu bared that industrial companies have been operating at an average of 70-percent capacity in recent months, although this was little bit lower compared to pre-COVID-19 levels.
While the business community was hopeful on the continued recovery of the economy, Yu said that vigilance was still very much needed looking ahead as most businesses now operate in the new normal environment.