EUROPE-PH News

ChristkindlMarket 2012 event was featured in GMA&n...

Christmas bazaar in SM Mall of Asia (Pasay City, Philippines) surrounded by snow!

Italian businessmen are taking a closer look at the Philippines for possible expansion and investment site in the future, the Trade Department said over the weekend.

The Retirement and Healthcare Coalition (RHC) urged Philippine developers to start putting up full- fledged retirement villages rather than mere “sleeping quarters,” as other countries in the region have gone ahead with their own infrastructure buildup to get a bigger share in the “ballooning” silver market.

The Joint Foreign Chambers of the Philippines (JFC) and the Philippine Business Groups have pushed for the passage of 16 legislative measures to bolster competitiveness and ensure sustainable and inclusive growth.

The European Chamber of Commerce launches the first Christkindlmarket in the Philippines, giving Filipinos the opportunity to experience a traditional European Christmas.

For the first time in Asia, the European Chamber of Commerce of the Philippines (ECCP) will be organizing the Christkindlmarket in Manila. From Dec. 3 to 9, the SM Mall of Asia Ice Skating Rink will be transformed into a Christmas village to replicate the original event.

The inflow of foreign direct investment (FDI) into the Philippines plummeted by 83% in August this year. The Bangko Sentral ng Pilipinas (BSP) is hoping a total FDI inflow of $1.2 billion for 2012. That's low in comparison with the average FDI the Philippines has received in the last 11 years, approximately $1.5 billion, and puny in comparison with what our ASEAN-5 neighbors have attracted during the same period.

Foreign businessmen here are disappointed with the decision of the Aquino administration to continue the country’s "restrictive" investment regime for non-nationals as contained in the recently issued Ninth Foreign Investment Negative List (FINL).

"Every step to curtail foreign investments at a time when we clearly are bypassed by FDI (foreign direct investments) compared to our neighbors, and at a time where we are recognized as a potential investment haven, must be seen as a step in the wrong direction," said Henry J. Schumacher, vice- president of the European Chamber of Commerce of the Philippines (ECCP).

Instead of pulling in foreign investments, the administration of President Aquino seems to be sending a signal driving away capital as indicated by the latest Bangko Sentral ng Pilipinas (BSP) figures showing foreign direct investments (FDI) dissipating 83 percent to a mere $13 million in August from $76 million a year ago that brought FDI in the year to August to $1 billion, one of the lowest among developing countries in the Asian region.

The Upstream Energy 2012 conference will have resource speakers and panels of experts to discuss the realities in the business landscape with far- reaching implications on energy security, supply and demand, affordability and access to energy supplies.