“The GDP growth is lower than expected and reflects government’s continuing delay in getting infrastructure projects implemented. Another issue is the low level of foreign direct investment due to the restrictive policies. If growth is to accelerate in the second half, these issues need to be addressed now,†said Henry Schumacher, vice president for external affairs at the European Chamber of Commerce of the Philippines.
The traffic situation in Metro Manila is so bad that Metropolitan Manila Development Authority (MMDA) Chairman Francis N. Tolentino even characterized it as bloody.
The foreign business community has renewed its call for the establishment of a Department of Information and Communications Technology (DICT), saying this will enhance the attractiveness of the Philippines as an investment destination.
Foreign Business associations in the Philippines have renewed their push at the House of Representatives for the passage of a law to create a Department of Information and Communication Technology (DICT).
The finance department added that it would hurt the Philippine government’s credibility before the international community, and, in the process, hurt confidence in President Aquino’s privatization thrusts and investment-generation programs like the public-private partnership (PPP) program.
Rapid developments in technology are changing the world and having a dramatic impact on the way we live, work, communicate and interact and do business. The government and the private sector should therefore be setting out an ambitious journey towards achieving a digital economy, highlighting the role of ICT as a key enabler in social, economic and environmentally sustainable growth and development.
The government’s response to attacks by a Chinese government hacker group named Naikon that had stolen secret data from supposedly secure agencies such as the Office of the President, the National Security Council and the National Intelligence Coordinating Agency for many years was to organize an ad hoc group consisting of personnel from the Department of Science and Technology to bolster cybersecurity in government websites.
This realization helped trigger the move in May by the European Chamber of Commerce of the Philippines (ECCP) to launch the first in the series of LGU-Business Forums involving the League of Provinces of the Philippines; the League of Cities of the Philippines and the League of Municipalities of the Philippines.
The study, a first in the Asia-Pacific region, was organized by Pilipinas Shell together with multisectoral stakeholders, such as the Metropolitan Manila Development Authority, the European Chamber of Commerce of the Philippines, League of Cities of the Philippines, as well as some non- governmental organizations.
Former Chief Justice Reynato S. Puno is now leading the charge against what he described as a “stale and outmoded 1987 Constitution†that has concentrated power in the central government in Manila, and widened the gap between the rich and the poor in society, instead of reducing poverty. He has organized a multisectoral movement, which is called Bagong Sistema, Bagong Pag-asa, that wants to shift from the current presidential-unitary to a federal- parliamentary system.
The ECCP was one of the 16 business groups that last year sought the repeal of the BIR-issued Revenue Memorandum Circular (RMC) No. 54- 2014, under which claims for VAT refund or credit not acted upon by the commissioner within the 120-day period as required by law would automatically be deemed a denial of the application.
European interests in the Philippines have gone from strength to strength this year, with up-and-coming startups attracting funding from established European investment groups. As a promising emerging market, foreign investment has been mainly targeted at business and trade related startups. Carmudi Philippines, a growing vehicle advertisement portal, received funding from two of Europe’s most prominent venture capitalists, Tengelmann Ventures and Holtzbrinck Ventures, earlier this year.
Serving the European-Philippine business community since 1978, the ECCP remains committed to enabling cross-sector collaboration, promoting economic growth, and championing a sustainable future. For inquiries or further information, you may contact us directly or connect with us through our official social media channels.