Presidential Adviser for Entrepreneurship Joey Concepcion stressed anew the importance of allowing children to return to schools and employees to their offices to the restoration of the Philippine economy to normalcy.

Concepcion made the statement as Metro Manila and 38 other areas entered this week the COVID-19 Alert Level 1 for the first time since the pandemic hit the country in 2020.

In a statement, the reopening of schools and offices will benefit the many businesses around these locations.

"Many small businesses are built around the normal operations of schools and offices so we must hasten their return to pre-pandemic operations,” he said.

The Go Negosyo founder acknowledged the need for students to shift to online learning and workers to work-from-home arrangements during the onset of the COVID-19 pandemic. However, he said these may no longer be healthy for the economy.

"Work from home can happen maybe on Fridays, but we need to bring back the social interactions," he said.

"There is no substitute for the dynamic that is achieved when people work together in person," he added.

Concepcion, however, explained that his sentiments do not mean that online transactions should cease.

"I am not saying online interactions should stop but we should see greater activity in face-to-face interactions," he said.

"Economic activity will be enhanced when this happens," he added.

This will also benefit the mental and social health of students, he said.

"Children also need to see their peers. School is where bonds are formed and where we make lifelong friends," Concepcion said.

"Our children have lost so much time being shut in for the last two years. I think we owe it to them to let them develop socially," he added.

The Department of Finance (DOF) had estimated that with the reopening of the economy, an additional P9.4 billion worth of economic activity per week will be generated, and some 170,000 Filipinos will be able to regain employment.

Concepcion pointed out that many micro and small businesses depend on the activity around schools and offices.

"The cafeterias, school, and office supplies stores, even the trikes and jeeps will benefit from the face-to-face classes and on-premise office work," he said, noting that many poor Filipinos depend on these activities and will benefit the most from the return of children to schools and employees to their offices.

He likewise said that while the country enjoys an investment-grade BBB+ rating, it should make sure that it maintains a good credit rating.

"This will only be possible if there is economic activity," Concepcion said.

"We already have greater mobility with the downgrading to Alert Level 1, but we must make sure that we maintain this for the next few months so we can continue by getting people vaccinated and boostered when the time is right," he said.