MANILA, Philippines — The European Chamber of Commerce of the Philippines (ECCP) on Wednesday expressed optimism for the country’s business environment this year, signaling continued confidence from the nation’s fourth largest trading partner by regional bloc.
ECCP president Paulo Duarte expressed confidence, citing the country’s solid macroeconomic fundamentals.
Article continues after this advertisement“The Philippine economy has made significant strides, overcoming recent challenges and positioning itself for sustained growth. This presents exciting opportunities for deeper collaboration and partnership with Europe,” Duarte said during the launch of the 2025 edition of the chamber’s “Doing Business in the Philippines” guidebook.
FEATURED STORIES BUSINESS Alfonso lone Filipino in Forbes '50 over 50' list BUSINESS BIZ BUZZ: DJ ‘John-C’ goes to AC BUSINESS Jollibee Group opens first Milksha concept store in the Philippines“We are encouraged by the moderation of inflation, which averaged 3.2 percent in 2024, well within the government’s target range of 2 percent to 4 percent,” he said further, noting as well a strong gross domestic products (GDP) growth forecast of 6 percent for 2024.
READ: PH-EU free trade talks to resume in February
Article continues after this advertisementThe ECCP official also mentioned the impact of a free trade agreement to the local business environment, highlighting that the next round of discussions is set to be held next month.
Japan pulled the plug on nuclear power after the 2011 Fukushima disaster, but with the G7’s dirtiest energy mix, it is seeking to cut emissions, and atomic energy is making a steady comeback, in part because of AI.
Google was pleased by federal judge James Donato’s decision to “temporarily pause the implementation of dangerous remedies demanded by Epic,” a company spokesperson said, as an appeals court considers permanently blocking the order stemming from Epic’s argument that the tech titan’s Android Play store is an illegal monopoly.
Article continues after this advertisement“The ECCP strongly believes that these negotiations will pave the way for enhanced cooperation between Europe and the Philippines,” said Duarte.
Article continues after this advertisementAside from these factors, Duarte mentioned several key reforms that were recently implemented by the government that gives them hope.
These include the passage of the Corporate Recovery and Tax Incentives for Enterprises Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, the government’s green lane program for strategic investments, and the Ease of Paying Taxes Act, among others.
Article continues after this advertisementDespite the rosy outlook, the ECCP official said that more measures need to be implemented to improve the country’s investment climate.
Citing the 2024 World Competitiveness Report, Duarte said the Philippines still ranks 52nd out of 67 countries.
slot games real money“Despite notable improvements in government efficiency, the country experienced setbacks in crucial areas such as infrastructure and business efficiency. As a chamber, we remain committed to championing reforms that will propel the Philippines towards the top of global competitiveness,” he said.
With this, Duarte said they can help EU firms operating in the Philippines to navigate the business landscape further with the “20225 “Doing Business in the Philippines” guidebook.
Subscribe to our daily newsletter
The ECCP’s 165-page report, done in cooperation Divina Law and the Boad of Investments, covers topics ranging from investments to taxation, down to labor and employment to competition laws.
Total trade in goods between the EU and the Philippines amounted to €16.1 billion (around P981 billion) with the former being the country’s fourth-largest trading partner at 8.1 percent.eu9
READ NEXT BOC condemns P34.11 million worth of vape products Alfonso lone Filipino in Forbes ’50 over 50′ list EDITORS' PICK House leaders press PhilHealth to defer 2025 premium collections Most Filipinos pick UP as PH’s best university – Octa Research Comelec mulls order to compel candidates to attend debates In Basilan, 2 dead as MILF fighters ambush soldiers Depoliticized and biodiverse: A closer look at the new peso bill designs Australian Open: Jannik Sinner beats Ben Shelton to return to final MOST READ Depoliticized and biodiverse: A closer look at the new peso bill designs Alfonso lone Filipino in Forbes '50 over 50' list DepEd under scrutiny for bringing sex ed to K-12 using RH law as basis Jollibee Group opens first Milksha concept store in the Philippines Follow @FMangosingINQ on Twitter --> View comments
