MANILA, Philippines — Persisting red tape is the biggest hindrance to expanding investments in the Philippines , according to German Ambassador Andreas Pfaffernoschke.To secure these permits, businesses have to deal with different layers and units of the government, he added.“Streamlining processes and reducing red tape is one of the key concerns,” Pfaffernoschke told reporters yesterday.
Political stability is a factor in improving investments made by German firms in the Philippines, Pfaffernoschke said. Germany remains one of the country’s investment partners with its foreign direct investments reaching nearly $150 million last year, its highest since 2005, according to the Department of Trade and Industry.
Red Tape Investments Philippines German Ambassador Bureaucracy Regulatory Environment Marcos Administration Political Stability German Firms
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