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FILIPINOS URGED TO BUY DOMESTIC PRODUCTS, SERVICES.
CEBU CITY, Jan 1 Asia Pulse - The lingering global economic crisis is the hard way of reminding Filipinos to patronize Filipino products and services to help the country survive, according to economic experts.
Cebu Holdings Inc. (CHI) president Rene Almendras urged industries, especially the export and tourism sector, to concentrate on stimulating the domestic market by also going local.
"We have to learn our lessons from the events that happened (this) year. Now is the time to spur economic demand," he said.
Earlier, former president of the Cebu Chamber of Commerce and Industry Efren Valiente and Department of Trade and Industry-7 Regional Director Aster Caberte had encouraged Filipinos to spend on local products to help improve the domestic economy.
University of Asia and the Pacific School of Economics Dean Bernardo Villegas said the country's large population was a great asset for domestic recovery.
"There is no question that the large population of the Philippines will become a major advantage in a shrinking global market for exports. Population will now be viewed as an asset and not a liability because of both its being the ultimate resource (manpower) and its stimulating the demand for products and services in the domestic market," he said.
As regards tourism, CHI's Almendras said the ...
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Source: HighBeam Research, FILIPINOS URGED TO BUY DOMESTIC PRODUCTS, SERVICES.