ECCP Annual Report 2012
By Henry Schumacher
The Business Environment
The Philippine business environment has improved in 2011 after the Aquino Administration launched a serious campaign against graft and corruption in 2010. The Philippines enjoyed a 10-point jump in the global competitive index from the ranking of 85 in 2010 to 75 in 2011. This is a good sign that the international community is recognizing the efforts of the Aquino administration towards bringing back integrity in government. President Aquino was relentless in applying the full force of his office on high government officials who have engaged in election fraud or adopted a lifestyle beyond their income capacity.
At the EU front, the European economic crisis is making the Philippine and ASEAN markets an important destination for investments and trade. European enterprises are looking at international markets to compensate for the current unfavorable economic conditions in some parts of Europe. The European Parliament and Commission are providing support mechanisms to help SMEs find new opportunities overseas. In this regard, European Business Organizations (EBOs) are being requested to assist European SMEs in identifying business opportunites outside the EU and in entering these new markets.
In 2011, ECCP has intensified its campaign to promote business integrity. The Chamber is working closely with other business organizations, particularly Makati Business Club, to come up with an industry accepted integrity standards and tools to ensure that ethical business practices are promoted and control measures embedded in all companies and organizations.
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