Europe-PH News

THE European Chambers’ ninth Joint Economic Briefing provided this year’s outlook and cited investment avenues seen to boost regional linkages with the Philippines.

With the theme: “Driving Economic Momentum and Investment Potential in 2025” staged on January 16, the event was organized by the Belgian-Filipino Business Chamber (BFBC), the British Chamber of Commerce Philippines, French Chamber of Commerce and Industry in the Philippines, Dutch Chamber of Commerce in the Philippines, European Chamber of Commerce of the Philippines, German-Philippine Chamber of Commerce and Industry, Spanish Chamber of Commerce in the Philippines, Nordic Chamber of Commerce, and Swiss Chamber of Commerce of the Philippines.

Macroeconomic updates and outlook in 2025 noted that inflation is expected to stay within the 2 to 4-percent target range of the Bangko Sentral ng Pilipinas, leading to a less restrictive monetary policy. Gov. Eli Remolona earlier stated that the Central Bank is targeting a “Goldilocks” rate, where the key interest rate is “neither too high nor too low” in 2025 after implementing a total of 75 basis point cuts rate since August 2024.

Further driving foreign direct investments is among the key focus of discussion to which Philippine government agencies have continued to support by highlighting their priorities for the year. Usec. Angel Ignacio from the Office of the Special Assistant to the President for Investment and Economic Affairs has identified priority sectors such as infrastructure, cybersecurity, energy, mining, agriculture and semiconductors, as she noted that “several countries—including the United Kingdom, South Korea, Australia and Sweden—have expressed interests in contributing to the corridor’s development.”

“Second,” she furthered, “is the upskilling and reskilling opportunities in cybersecurity… By prioritizing these sectors, we aim to establish a robust economic foundation that attracts domestic and foreign investments.”

The panel discussion centered on the transportation and clean-energy sector which emphasized its current initiatives in enhancing connectivity in the country and opportunities in renewable energy through various mechanisms known as “investment enablers” by providing certificates, promoting green lanes, implementing ease of doing business and incentivizing investors.

Moreover, Exec. Dir.-Trustee Chris Nelson of BCCP emphasized the need for acting and supporting policy reforms to attract more investors in the country: “Development of key policy reforms serve as a promising step toward a more transparent, efficient and business-friendly environment that encourages foreign investors to engage and choose the Philippines as their primary investment destination in the region.”

Aside from Ignacio, the event featured speakers and panelists headlined by Usec. Timothy John R. Batan of the Department of Transportation’s Planning and Project Development, Asec. Mylene Celestino Capongcol from the Department of Energy, Atty. Rowena Candice Ruiz who is the executive director of the Government Procurement Policy Board’s Technical Support Office, Exec. Dir. Evariste Cagatan of the Bureau of Investment’s Investment Promotion Services, as well as Senior Vice President and Head of Research Dante Tinga Jr. of Banco De Oro Unibank Inc.