German companies operating in the Philippines showed optimism on local business prospects, according to the German-Philippines Chamber of Commerce and Industry.
“Our recent survey shows a bullish business interest of German businesses in the Philippines. We are excited about more developments soon as we promote the Philippines to more German businesses in our lined-up activities this year,” said GPCCI executive director Christopher Zimmer.
The survey reported that more than a half or 62 percent of German-Philippine businesses are in a better business situation with a significantly improving trend when compared to Spring 2021 with only 21 percent.
Expectations also showed positive results, with a vast majority or 74 percent of responding firms anticipating confidence in business development for the next 12 months.
“The positive outlook of companies engaged in German-Philippine economic relations is attributable to the recent activities of the Philippine government in the EU,” said Schmitz.