NextGen Day

According to an executive of the European Chamber of Commerce of the Philippines (ECCP), the future administration’s policy reforms should focus on corruption and human capital development.

According to ECCP President Lars Wittig, recruiting investors requires a transparent administration that respects public trust.

“Denmark has the lowest level of corruption in the world, and I’ve personally witnessed how beneficial it is to business.” Because when there is a high degree of confidence and openness, it makes the business very adaptable and willing to spend,” he stated in a press conference on Monday.

According to Wittig, the Philippines will attract more investors if the government spends more on human capital development by allocating a larger budget for education and nutrition.

“We are devoting a smaller percentage of our GDP (gross domestic product) to education,” he continued.

According to Wittig, the country’s education investment as a proportion of GDP is relatively low when compared to other emerging countries.

“Finally, there’s nutrition. “It may sound simple, but diet is one of the most significant barriers in this country to ensuring a productive life between the ages of 50 and 65,” he said.

According to the ECCP leadership, the future administration should focus on inclusive growth and poverty alleviation so that Filipinos can afford better nutrition.

“It’s the opportunity to pay money for the correct meals for your children and yourself, not just food,” Wittig explained.

He also supports new measures aimed at improving the country’s agriculture sector, which employs a big number of the poor.

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