European investors asked the Philippine government to provide certainty and security, in terms of competitive tax rates and fiscal incentives, to investors including foreign companies.
European Chamber of Commerce of the Philippines president Francis Nabil said a competitive investment environment would encourage more European companies to build their businesses in the Philippines and contribute to Philippines economic recovery.
“We wish for the Philippines to get more European investors to enter the Philippine market to create more quality jobs and to contribute to the country’s economic growth. This is especially true now as the country is working to revive the economy and provide more quality jobs to Filipinos in particular for those overseas Filipino workers who were repatriated due to the COVID-19 pandemic,” he said during the virtual EU- Philippine Business Summit 2020.
The EU is working closely with the Philippine government to support the recovery efforts in the areas of renewable energy, agriculture and development in Mindanao.