Investors’ confidence in the Philippine economy has been strengthened by the government’s efforts to improve governance and combat corruption, according to European Union Ambassador to the Philippines Massimo Santoro.
Speaking on Thursday at the launch of Doing Business in the Philippines 2026 in Makati City, Santoro said ongoing policy reforms are reassuring investors that the country remains an attractive destination for business and long-term investment.
“We very much welcome the current efforts being made by the government on good governance, in fighting corruption and ensuring accountability, because this is exactly what triggers investors here and what maintains investors here,” he said.
Santoro noted that reforms aimed at liberalizing the economy and improving the overall investment climate are frequently cited by businesses as concrete signs of the Philippines’ commitment to structural change. These measures, he said, help reinforce trust among both existing and prospective investors.
He expressed optimism that sustained reform momentum would translate into higher investment inflows in the coming year, supporting job creation, technology transfer, and the development of sustainable, high-value industries beyond traditional trade and investment activities.
Free trade agreement talks
Santoro also announced that negotiations for a free trade agreement (FTA) between the Philippines and the European Union are expected to resume by March, along with smaller-scale dialogues between the two sides.
He emphasized that the talks go beyond reducing tariffs, aiming instead to create a stable, predictable, and rules-based framework for trade and investment.
Negotiations are expected to cover key areas such as trade in services, investment, intellectual property rights, digital trade, and sustainability—sectors Santoro described as “crucial for modern and high quality economic partnerships.”
“We think that FTA can foster shared economic growth that can bring us closer to a more prosperous and sustainable future. And let me also add that the FTA also means an amazing occasion for jobs, additional job opportunities, here in the Philippines,” he said.
PNA PHOTO