Bayanihan 2 provisions support local industries –Angara
The Bayanihan to Recover as One Act or Bayanihan 2 contains several provisions that support local industries that have suffered due to the coronavirus disease 2019 (COVID-19) pandemic, Senator Sonny Angara said Saturday.
In a statement, the senator said that the measure will also give a special preference for locally-manufactured products, such as personal protective equipment (PPEs).
“During this critical period, we want to provide as much assistance to our local industries as we could… We only had so much funds to work with and so we included these provisions that would ensure that our local industries would be supported without putting any pressure on government finances,” he added.
Aside from PPEs, other products and supplies given preference were laboratory equipment, medical equipment and devices, alcohol, sanitizers, tissue, hand soap, thermometers, cleaning materials, common medicines, and testing kits.
Angara said the measure will also liberalize the grant of incentives for the manufacture or importation of needed equipment while the Bureau of Internal Revenue has been tasked to determine the exemption from fees for their manufacture.
Meanwhile, the Department of Trade and Industry has been instructed to certify supplies being imported as not locally available to qualify for exemption from import duties, taxes, and other fees.
The Small Business Corporation was also tasked to provide loans to micro, small, and medium enterprises (MSMEs) for the acquisition of new technologies and systems.
“For some MSMEs, shifting to the manufacture of goods such as PPEs will not require too much of a change in their operations. For instance, couturiers and shoemakers can just use their existing equipment to produce face masks, gowns and shoe covers. Government will just provide them with financial and technical support as needed,” Angara said.
MSMEs will also be aided by the DTI in shifting to e-commerce by providing them technical support. — DVM, GMA News