"Recovery from the Pandemic May Be Possible Under Private Sector Leadership"

"Recovery from the pandemic can only be achieved through the private sector's leadership in developing rapid, sustainable and inclusive policies" Erol Kiresepi, President of the International Organisation of Employers (IOE) and Chairman of the Board of Santa Farma, delivered remarks on behalf of the world's employers at the COVID-19 and Working Life Global Summit, which was held live on 8 July 2020 by the International Labour Organization (ILO) and featured speakers from leaders of 60 countries. In his remarks, Kiresepi noted that the massive crisis has adversely affected all our lives and lifestyles and has deeply shaken countries' development goals, emphasizing that the pandemic has resulted in significant income losses and rising unemployment in terms of working life. As President of the IOE, the broadest representative of the private sector in the world, he witnessed major efforts by various stakeholders to overcome the crisis and underscored the urgent need to coordinate these international efforts within a framework of cooperation and joint action. [caption id="attachment_102816" align="aligncenter"] Erol Kiresepi[/caption]

"The private sector plays a vital role"

Kiresepi noted that recovery from the crisis can only be achieved through the private sector's leadership in developing rapid, sustainable and inclusive policies, and stated that there is a greater need than ever to improve the investment climate in a way that will lay the groundwork for the development and strengthening of private sector enterprises. The IOE President noted that the unemployment and income losses caused by the crisis can be eliminated through the creation of new business opportunities and employment areas, and emphasized the need to prioritize the revitalization of trade, industry and investment sectors as well as the support of business continuity and the real economy on a global scale. Pointing out that the pandemic has raised awareness in the business world about innovation, changing business models and the proper use of technology, Kiresepi said, "The crisis has brought positive developments in terms of sustainability and business continuity. As a result, when building a better future, we must always keep in mind the need to invest in skills development and lifelong learning solutions to ensure the employability of workers. Creating a better post-crisis future for working life will also enable the supply of skills to meet the needs of the labor market." Emphasizing the important role that the ILO plays in this regard, Kiresepi stated, "The ILO should continue its fundamental functions in these areas and provide support to workers, employers and governments within its scope in managing the crisis and the process of emerging from the crisis in a sustainable manner."

"Urgent need for public sector intervention"

Emphasizing the need for cooperation among all parties in overcoming the crisis, Kiresepi said: "It is not possible for companies to overcome the crisis on their own; firm cooperation between the public and private sectors is now more important than ever. Moreover, there is an urgent need for public sector intervention in new and innovative approaches for a rapid recovery process. In addition, it is necessary to steadily strengthen effective social dialogue. Social dialogue is a key factor in creating agreed and effective strategies for a safe and successful return to working life. Employer and worker organizations have an important role in providing guidance for this purpose and in creating a timely and reliable flow of information." Kiresepi also emphasized the need to develop a new understanding of social protection, particularly in the context of the pandemic. On the matter, he said, "In the context of the emergency at hand, when we speak of a safe transition to life, the need to concentrate our efforts on the development of social protection systems and making working life adequate, sustainable and compatible with environments becomes much more clearly evident. However, the process of establishing national social protection systems must proceed hand in hand with policies addressing the difficult situation of a large number of workers, including those in the informal economy. The COVID-19 crisis is increasing its impacts on workers in the informal economy worldwide, particularly in developing countries where they represent 70 percent of the workforce. The pandemic process has clearly exposed the great weaknesses of the informal economy. Reducing the vulnerability of workers in the informal economy and their exposure to risks can only be achieved through solid and effective policies that facilitate the transition to the formal economy."