European officials and businessmen have urged the Philippine government to improve the business climate in the country to attract investment from Europe, reported a local daily, the Philippine Star, on Friday.
The report said participants at the European Chamber of Commerce of the Philippines (ECCP) Business Conference in Makati, Metro Manila, said Thursday the price of energy in the Philippines is too high while infrastructures are running down.
European Union Ambassador to the Philippines Alistair MacDonaldsaid the Philippines is not doing as well as other Asian countries in promoting trade and investment cooperation with Europe, according to the report.
Macdonald said among the things must be addressed by Manila are improving business climate by cutting red tape, dealing with corruption and promoting transparency, said the report.
He also called for upgrading the energy, transport and water infrastructure sectors in the country, improving the fight against poverty which includes promoting family planning.
Hubert D'Aboville, chair of the ECCP, said European businessmen are willing to invest in infrastructure projects as well as improve basic transport facilities in the country.
He also called on the government to address the problem of smuggling to encourage more investments in the manufacturing sector, as well as to guarantee stable supply of power, which is key to developing manufacturing.
Source:Xinhua
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