To ease current business processes, nearly 700 members of the European Chamber of Commerce of the Philippines (ECCP) can begin transacting with their clients and suppliers through the free use of internet.
It was a hell of a story, a beautiful dream. But it was also a great and fatal illusion. The world economy was on a sustainable growth path – this was the opinion of the majority of managers and company owners, it was the view among bankers and economists. A high, growing, inflation-free growth of 4 – 5% per annum was possible, globally! Finally, major parts of the world population would leave poverty behind them.
The Joint Foreign Chambers (JFC) recently launched a paper called “Impact of the Global Economic Crisis on the Philippines; Preparing to Rebuild Foreign Investment Flows†and outlined eight components of recommended strategy growth.
The Philippines --- for more than a century --- has looked east, because at the end of the rainbow was the American Dream, the United States of America. More than 2.5 million Filipinos have settled in the US. The US has become the largest trading partner and the Philippines inherited the American political and legal system.
Despite the general belief that the Philippines will largely be spared from the effects of the global economic crisis, I prepared a list of things (not in order of importance) that would be good to have in 2009 just in case the prevailing optimism is hit by realism.
Serving the European-Philippine business community since 1978, the ECCP remains committed to enabling cross-sector collaboration, promoting economic growth, and championing a sustainable future. For inquiries or further information, you may contact us directly or connect with us through our official social media channels.