Proposals pushed for fixing PHL's path to prosperity post-pandemic.

THE indefatigable spirit of the intrepid Filipino has always driven many bright minds to offer what little hope there is; a solace for taking up the journey from the vicissitudes the coronavirus disease 2019 (Covid-19) pandemic has wrought.

Foremost among these Filipinos is Rep. Jose Sarte Salceda of Albay. Salceda, who also heads the House Committee on Ways and Means, has a somber appreciation of the condition of an economy at the edge of a crevice.

'Economic growth is always in the future. We have many economic tools to restore economic growth,' Salceda said. 'But no economic tool has ever succeeded in bringing the dead back to life.'

The lawmaker emphasized that history and economics do not show that the implementation of the 35-day enhanced community quarantine (ECQ) is a 'tradeoff' between lives and economic growth.

'The more lives we lose and the more panic this virus creates if it gets worse, the less our chances are of any quick recovery,' Salceda said. 'Our people and our confidence - these are the two greatest resources in any economy; and they are the only irreplaceable ones.'

Indeed, as Covid-19 spreads and adds pressure to burst the filament of the Filipino spirit, there is hope one of the 'Sick men of Asia' would resume treading the path to prosperity.

Waiting for a vaccine

ACCORDING to Salceda, the key driving forces to resumption of growth are: mass testing, vaccines discovery and stimulus response.

'While awaiting a vaccine, it is testing that would determine the gradual return to normal business operations and societal functions,' he said. 'We assume that the Philippines will make inroads starting May.'

'The discovery of a vaccine is actually the most critical determinant of recovery. We assume that a vaccine will found later in 2021 and it would be implemented in 2022,' he added. A vaccine, however, could only address the real possibility of a recrudescence of the disease.

According to Pharmaceutical and Healthcare Association of the Philippines (PHAP) Teodoro E. Padilla, they are in a 'unique' position as the importance of research and development (RandD) has come to the fore.

Oftentimes, the value of RandD is unappreciated with the imposition of policies that restrict, disincentivize and discourage innovation, Padilla explained.

The presence in the Philippines of pharmaceutical companies involved in the RandD for Covid-19 offers opportunity for timely dialogue, collaboration and action to urgently bring in required medicines in the country, he told the BusinessMirror.

Padilla said he considers the RandD undertaken by PHAP members on vaccines, treatment and diagnostics for Covid-19 as contributing to addressing the pandemic.

The other two PHAP contributions are: helping ensure the uninterrupted supply of life-saving medicines and supplies and individual and collective corporate social responsibility efforts.

Engaging in RandD

According to Padilla, pharmaceutical companies involved in the RandD for Covid-19 offer opportunity for collaboration.

He said these firms 'have individually reached out to the government on their readiness to collaborate on specific partnerships.' he added.

Padilla said pharmaceutical companies undertaking research for Covid-19 treatments and have presence in the Philippines include AstraZeneca, Eli Lilly, Johnson and Johnson, Merck, Novartis, Pfizer, Roche and Takeda.

Meanwhile, pharmaceutical companies engaged in the research of vaccines operating in the Philippines are GlaxoSmithKline, Johnson and Johnson, Pfizer and Sanofi.

On the development and production of diagnostic tests, Abbott, Roche and Takeda are in the forefront, according to Padilla.

He said these companies and the PHAP are willing to work with the government in planning for and securing sustainable strategies for future public health emergencies.

'Moving forward, PHAP hopes the government can help make the environment more conducive to innovation so that these research-based pharmaceutical companies continue to operate here in the Philippines,' Padilla said.

'Policies that enable, support, incentivize and protect innovation are necessary for these research-based companies, and other global companies to invest in the Philippines.'

Long run

SALCEDA, a senior vice chairperson of the House Committee on Economic Affairs, said a strategy must be implemented to help the government address the pandemic.

According to the lawmaker, he is set to submit to President Rodrigo Duterte a 109-page Philippine National Stimulus Strategy.

'We must change strategy and look at one that can be in force until a cure is found,' he said. 'This may be soon or it can be a long way from today so our strategy must allow for that.'

Salceda, an economist, said this strategy seeks to provide relief for firms and individuals, reduce permanent structural damage of a temporary crisis and pursue a policy for full employment.

Under his strategy, Salceda proposed survival, transitional and structural measures to cope the impact of the deadly virus.

Salceda's survival measures include the following: the ECQ; emergency subsidy program; and, other forms of cash and in-kind assistance especially for the vulnerable sector. The government is currently implementing these measures.

Padilla told the BusinessMirror that, from the medical sector's viewpoint, the...