European traders urge next Philippines administration to focus on corruption

The European Chamber of Commerce of the Philippines (ECCP) has called on whoever will next lead the Philippines to focus on reforms that will address corruption. Such reforms, according to ECCP President Lars Wittig, will benefit all businesses. Wittig said corruption in the Philippines has got worse and investors are looking at reforms that can cure the increase in corruption. When there is a very high trust level and transparency, businesses become very adaptable and very willing to make investments, he added. Recently, Transparency International reported that the Philippines declined to a “historic low” in its 2021 Corruption Perceptions Index (CPI). The Philippines is holding its presidential elections in May.