53% of German firms are in ‘better situation’ in PH
About 53% of German companies believe they are in a “better situation” in the Philippines, according to the Fall 2022 AHK World Business Outlook (WBO) Survey of the German-Philippine Chamber of Commerce and Industry (GPCCI).
The poll, held in October with 68 respondents involved in German-Philippine business relations, showed a higher figure than Spring 2022’s 47%.
On the other hand, only six per cent said their companies are in a worse situation in the country.
GPCCI Executive Director Christopher Zimmer said, “We are glad to see that companies still experience a better business situation in the Philippines despite growing global economic impediments.”
The survey also revealed that 61% of respondents expect better business development in the next 12 months.
However, it was also noted that the number of companies with pessimistic outlook in the next 12 months increased from only one per cent in the Spring 2022 to 13% in the latest survey.
The GPCCI said the number reflected the sentiments of companies that have started to feel the impacts of the global energy crisis brought on by the Russian-Ukraine war, supply chain disruptions, higher energy prices, and the exchange rate.
To stave this negativity, Schimtz urged the Marcos administration to utilize the policy reforms to attract more foreign direct investment inflows in the coming years.
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