ECCP notes hike in membership: Pandemic pushes businesses to realize need for connection

CEBU, Philippines —  More companies in Cebu are joining the European Chamber of Commerce in the Philippines (ECCP) realizing the dire need for closer collaboration and market connection.

 “In ECCP’s 30 years existence in Cebu, we have never seen an increase [in membership] as during this pandemic,” said ECCP president Lars Wittig.

According to Wittig, aside from the creatives, art and design, and exports companies, other industries/businesses are now realizing the need to anchor with organizations like ECCP in order to cope with the current difficulties.

ECCP executive director Florian Gottein noted that hospitality establishments, Information Technology and Communication (ICT), infrastructure firms, waste-water management companies are now joining the European business chamber in the Philippines, perhaps for different reasons, but what is clear is these companies have opportunities to be promoted in Europe.

During a virtual press conference, Wittig emphasized that despite the pandemic, ECCP noted favorable queries from small and medium enterprises (SMEs) in Europe signifying interest to invest in the Philippines.

Gottien said queries are usually from SMEs which are rethinking their operations after the pandemic forced many such firms to close shop.

“What we are targeting and where we are also getting inquiries on a constant basis is actually more the small and medium sized enterprises that are also the backbone of the European economy,” explained Gottien adding that European firms are considering restructuring, outsourcing, and entering other markets.

During the virtual press conference, Wittig also called for the passage of major economic reforms in the Philippines in order to boost foreign direct investments, accelerate recovery and generate more employment.

Wittig mentioned amendments to the Foreign Investments Act, Public Services Act and Retail Trade Act, are crucial to the country’s attractiveness to FDIs, especially at this current economic turbulence.

“As we continue to navigate the new normal, it is crucial that the government intensifies its efforts to improve the country’s overall competitiveness and make the Philippines a more attractive destination for trade and investments to recover from the adverse effect of the pandemic,” Wittig said.

FDI inflows to the Philippines declined to US$6.542 billion in 2020 from US$8.671 billion in 2019.

In 2020 however, European investments to the Philippines, did not drop like the average which was 24-25 percent. It only dropped 12 percent, Wittig added.