EUROPE-PH News

The Aquino government, which formally enters its final year with the President’s State of the Nation Address today, has raised the bar for successors in terms of better governance, but much remains to be done to make the country a compelling case for investments, business leaders noted over the weekend

Three foreign business chambers that crafted last year a special “investment corridor” in southern Mindanao appeared to have struck gold as they announced that they are bringing on Friday some 25 foreign business executives to industrial and processing sites here and in two other adjacent towns.

Local and foreign business groups listed down political and economic reforms they want President Benigno Aquino III to address in his farewell State of the Nation Address (SONA) on Monday, July 27.

President Benigno Aquino III will seek to inspire Filipinos on his sixth and final State of the Nation Address (SONA) on Monday, hoping to emphasize the "significant change" resulting from a "new way of doing things" under his watch.

"It has always been ECOP’s advocacy to amend the restrictive and punitive provisions in the 4 decade old Labor Code crafted during Martial Law years to align our labor policies with the rest of ASEAN and enhance our competitiveness, " Lacson said.

" Although the ambition level [of the regional economic unification is less than the EU - with common currency and all that - it is an important first step to start trading more with newer markets in Europe and in other parts of the world. " ECCP Vice President Erik Moller Nielsen told the BusinessMirror.

Hi-tech products were on full display during the European Chamber of Commerce of the Philippines Energy Smart Philippines 2015 at the SMX Convention Center in Pasay City.

Four new publications are added to the collection of the Materials Library at the Materials Innovation Centre (MATIC). These provide designers, product developers and students with more resources that heighten their creativity and innovation.

The European Chamber of Commerce of the Philippines Inc. (ECCP) said both laws would form part of the Aquino administration’s legacy as the government would be able to create a more level playing field and offer cost reductions in domestic shipping.

Speaking for the European Chamber of Commerce of the Philippines, Chamber President Michael Raeuber said several issues continue to worry European businesses. “The government is not honoring some of its commitments under VAT refund and is thereby withholding large amounts of working capital from investors,” Raeuber said.

With less than a week to go before his valedictory State of the Nation Address, President Benigno S. C. Aquino III yesterday signed into law a measure that aims to level the country’s playing field and another that seeks to do so particularly in the shipping industry, taking twin steps forward in the government’s bid to further improve the country’s business climate.

International business groups have advised the Philippines to re- examine some of its policies to attract the inflow of more foreign direct investments (FDI) in the country.