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German biz group seeks more predictability in PH economic policies

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ABS-CBN News

MANILA – A foreign business chamber has called for predictable economic policies on the part of the Philippine government.A recent survey conducted by the German-Philippine Chamber of Commerce and Industry (GPCCI) showed that German businesses in the country generally see better conditions and developments in the country in the next 12 months. Majority also see more local investments and jobs in the next year.But the group says investors are also concerned about uncertainties in the economic policies of the Philippines.“They also have identified certain risks such as shortages of skilled labor, disruptions in supply chains, and economic policy uncertainties,” said Tristan Loveres, who sits on the GPCCI Board of Directors.“These of course anticipate the increase in geopolitical obstacles such as inflation, trade barriers, and also cybersecurity threats,” he added. The group said a free trade agreement between the Philippines and the European Union (EU) could help ease those worries. <ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/05/25/23/marcos-time-to-resume-talks-for-bilateral-free-trade-agreement-between-ph-eu">Marcos: Time to resume talks for bilateral free trade agreement between PH, EU</a></li>	<li><a href="https://news.abs-cbn.com/business/06/06/23/trade-chief-to-fly-to-brussels-to-bat-for-ph-eu-free-trade-deal">Trade chief to fly to Brussels to bat for PH-EU free trade deal</a></li></ul>He also noted that ease of doing business will also encourage more investors to enter the Philippine market.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/video/business/07/18/22/german-firms-see-overall-positive-developments-in-ph-survey">German firms see &#x27;overall&#x27; positive developments in PH: survey</a></li></ul><div>--ANC, 30 June 2023</div>

A foreign business chamber has called for predictable economic policies on the part of the Philippine government.