FFCCCII forecasts 7.5% GDP expansion in 2022

Published December 8, 2021, 6:29 AM

by Bernie Cahiles-Magkilat

Henry Lim Bon Liong, president of the Federation of Filipino-Chinese Chamber of Commerce and Industry Inc. (FFCCCI)

Filipino-Chinese businessmen in the country forecast the domestic economy will grow a strong 7.5 percent GDP in 2022 as strong economic fundamentals will propel robust recovery.

“I foresee strong Philippine economic recovery next year 2022, with my forecast of conservatively the GDP growth at 6.5 percent, and optimistically at 7.5 percent,” said

Henry Lim Bon Liong, president of the Federation of Filipino Chinese Chambers of Commerce & Industry, Inc. (FFCCCII), at a recent relief goods turnover ceremony for Metro Manila’s urban poor communities in 43 barangays given by 11 major Filipino Chinese organizations of the Filipino Chinese Community Calamity Fund (FCCCF).

Lim said the Philippines strong economic fundamentals will pave the way for a robust recovery, which he attributed to the implementation of socio-economic reforms, prudent fiscal and monetary policies, better infrastructures. The massive COVID-19 vaccination in the country is also expected to support economic recovery.

Lim, likewise, urged the business community and Filipinos to uphold basic health protocols like wearing face masks and social distancing to avoid surges in cases and sustain economic gains. “The Filipino-Chinese business community is hopeful and ready to reinvest to help sustain strong Philippine economic recovery. Let us help create more jobs, boost consumer and business confidence,” he said.

For the May 2022 elections, Lim expressed hope that it will be clean and orderly 2022 to ensure continued political stability, which he said is the strong foundation for Philippine economic recovery.

For the next President, Lim said that FFCCII wished that the next administration shall continue bold socio-economic reforms such as support for agriculture progress and food security, infrastructure modernization, uphold independent foreign policy of befriending and trading with all the world’s big powers, and also continue vigorous efforts to improve peace and order.

FFCCCII is the umbrella organization of over 170 Filipino Chinese chambers of commerce and diverse industry associations nationwide from Aparri to Tawi Tawi led by industrialist Dr. Lucio C. Tan as chairman emeritus. The FCCCF is a philanthropic coalition of 11 major Filipino Chinese business, civic and cultural organizations led by FFCCCII, it was established to raise funds and distribute relief assistance for victims of calamities such as pandemic, typhoons, etc.             

Since the March 2020 when the global pandemic started in the country, FFCCCII led the creation of the Filipino Chinese Community Calamity Fund (FCCCF) comprised of 11 major Filipino Chinese business, civic and cultural organizations, FCCCF raised over P300 million pesos in donations to undertake charities to alleviate the difficulties of our marginalized peoples and to give support to medical and security frontliners nationwide.

 The 11 major Filipino Chinese organizations that comprise FFCCCII are the following:  Federation of Filipino Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) and its philanthropic arm FFCCCII Foundation Inc., Federation of Filipino Chinese Associations of the Philippines, Philippine Chinese Chamber of Commerce and Industry, Inc. (PCCCII), Overseas Chinese Alumni Association of the Philippines,       World News Daily,        Filipino Chinese Amity Club,        Filipino Chinese Shin Lian Association, Overseas Chinese Chamber of Commerce and Industry of the Philippines,        Philippine Soong Ching Ling Foundation,  Philippine Jin Jiang Shen Fu Zhen Association, and  World Fujian Youth Association & Business Club.

 
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