German businesses operating in the Philippines expressed stronger intent to increase employment over the next 12 months, compared to their counterparts in ASEAN countries and other global locations, according to a survey by the German Chamber of Commerce and Industry (GPCCI) and the German Chambers of Commerce Abroad (AHK).
The survey evaluated the Philippines’ specific results in relation to those of other AHK entities in the ASEAN region and around the world and considered potential risks and challenges faced at their respective sites.
“Recognizing the Philippines as a key market in the ASEAN region, it was crucial to gauge its standing and identify areas for growth and success,” said GPCCI executive director Christopher Zimmer.
He said the satisfactory outlook in the Philippines was encouraging as GPCCI continues to provide platform for German businesses in their market entry in the Philippines.
The survey examined investment areas and influential factors, providing a comprehensive view of the business climate. Based on the analysis, the Philippines ranked highest amongst ASEAN countries in positive outlook toward business situation at 44 percent, expectation at 63 percent and employment intentions at 48 percent.