German firms 'very bullish' about Philippine market: trade group

ABS-CBN News

Posted at Jun 26 2019 04:32 PM | Updated as of Jun 26 2019 04:41 PM

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MANILA - German firms are "bullish" about the Philippine market as qualifications of its English-speaking workforce offset risks such as inflation and the volatile exchange rate, the director of a German-Philippines trade group said Wednesday.

Some 70 percent of companies that have set up shop here are "happy," German-Philippines Chamber of Commerce and Industry executive director Martin Henkelmann told ANC, citing their own report.

"The overall feedback is that they are very bullish about the market here... Situation is better than it was a year before and that also results in intentions to employ more Filipinos and Filipinas," said Henkelmann.

"Employees are very well qualified and it's also the fact that it’s an English-speaking country. That’s one of the big advantages that we have here," he added.

When asked about the chamber's stand on the TRABAHO Bill, which aims to rationalize incentives and lower corporate tax, Henkelmann said the government should take into account concerns of foreign investors.