Connect with us

Hi, what are you looking for?

News

German companies signal improved business sentiment

KATEMANGOSTAR-FREEPICK

GERMAN companies are expecting their prospects to improve, according to the results of a global survey released by the German-Philippine Chamber of Commerce and Industry (GPCCI).

The GPCCI said the World Business Outlook report for Fall 2022 released on Wednesday found that 53% of participants expect the situation to improve for their companies, higher than the Fall 2021 (32%) and Spring 2022 (47%) survey results.  

Some 41% of survey participants expect their situation to remain unchanged while 6% forecast it to worsen.

According to the GPCCI, the survey included 68 companies involved in the Philippine market in fields like manufacturing, construction, trade, and services.

Of the Philippine segment of the survey, 61% of respondents expect their business to improve in the next 12 months while 13% expect conditions to deteriorate.

Some 39% described their prospects over the next 12 months in the Philippines as satisfactory, while 44% forecast conditions to remain unchanged. Some 50% said they plan to maintain their current staffing levels.

“We are glad to see that companies still (expect) a better business situation in the Philippines despite growing global economic impediments,” GPCCI Executive Director Christopher Zimmer said.

The three biggest risks identified by respondents for the next 12 months include supply chain disruptions (56%), energy prices (50%), and exchange rates (43%).

Philippine locators described the three main advantages of being based here as the skilled workforce (54%), labor costs (48%), and supplier network (32%).

“With the increasing global impacts of the energy crises and supply chain disruptions, the German business community is considering looking for new suppliers and relocating their production to boost operations,” GPCCI President Stefan Schmitz said.

“We ask the new government to take advantage of this opportunity by using the policy reforms to attract more foreign direct investment inflows in the coming years,” he added. — Revin Mikhael D. Ochave

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

A market vendor arranges assorted vegetables inside the Quinta Market in Manila, Sept. 19. Vegetable prices continued to rise in November. — PHILIPPINE STAR/...

News

More policemen are deployed in Divisoria, Manila as the shopping area is expected to draw bigger crowds ahead of the holidays, Dec. 1. —...

News

PHILIPPINE STAR/ RUSSELL PALMA By Arjay L. Balinbin, Senior Reporter A PROPOSED MEASURE seeks to require National Economic and Development Authority (NEDA) Board approval...

News

BW FILE PHOTO THE MANAGEMENT ASSOCIATION of the Philippines (MAP) is seeking the creation of a public-private sector advisory council for various sectors, in...

News

UNSPLASH THE HOLIDAYS shouldn’t be used as an excuse to binge-eat, warned a dietitian.  Christmas is just around the corner and with it comes...

News

MANILA Electric Co. (Meralco) has secured a certificate of exemption from the Department of Energy (DoE) from the competitive selection process (CSP) for the...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.