Officials from ABAP think the nation is in a good position to capitalise on its current boxing talent, according to ABS-CBN Sports.

Due to the ongoing COVID-19 pandemic, the Tokyo 2020 Olympics were moved back one year to July and August of 2021.

In an online version of the Philippine Sportswriters' Association Forum, Vargas said: "I'm just hoping that the Olympics will push through because this is our best chance.

"When I look at our boxers, we were ready for Tokyo 2020 and we lost steam."

Vargas' comments come after a recent survey in Japan suggested more than half of Tokyo residents would still not be comfortable with hosting the Olympics next year.

Another survey then showed that 77 per cent of Japanese citizens thought that the Games will not be able to go ahead in 2021.

The Philippines to date has two boxers qualified for Tokyo 2020, the recently-turned professional Eumir Marcial and Irish Magno.

Others including Nesthy Petecio, Carlo Paalam, Rogen Ladon and Ian Clark Bautista are expected to have the opportunity to make the grade too.

"It's very sad if the Olympics will not push through at least to next year, or we wait for the next Olympics in Paris," Vargas added.

"It's a very tough decision, the International Olympic Committee is having a very difficult time because of all the investment put in by the Japanese Goverment."

Vargas said he hoped that the country can win an Olympic gold in boxing, a colour The Philippines has yet to win at the Games in any sport.

Their last medal in boxing came at Atlanta 1996, when Mansueto Velasco won silver in the light flyweight category.