Makati city: Investors' confidence in the domestic economy has been boosted by government measures to address corruption, a foreign diplomat said Thursday. European Union Ambassador to the Philippines Massimo Santoro stated that ongoing policy reforms are helping assure businesses that the country's investment climate remains positive.

According to Philippines News Agency, Ambassador Santoro emphasized that the current efforts by the government on good governance, fighting corruption, and ensuring accountability are key factors in attracting and maintaining investors. He made these remarks during the launch of the Doing Business in the Philippines 2026 event in Makati City. Santoro highlighted that policy reforms, including liberalization measures, indicate the Philippines' commitment to reform and are essential for improving the investment climate.

Santoro expressed optimism that the momentum from these reforms would lead to increased investment flows in the coming year. He noted that such investments could contribute to job creation, technology transfer, and the development of sustainable, high-value industries beyond trade and investment.

In addition to discussing government reforms, Santoro mentioned that talks on the Philippines-EU free trade agreement (FTA) are expected to resume by March. These discussions will occur alongside smaller dialogues between the two parties. Santoro underscored the importance of the negotiations not only for tariff reduction but also for establishing a stable, predictable, and rules-based framework for trade and investment.

The discussions will cover areas such as trade in services, investment, intellectual property, digital trade, and sustainability. Santoro described these areas as crucial for modern and high-quality economic partnerships. He also noted that the FTA has the potential to foster shared economic growth and create additional job opportunities in the Philippines, contributing to a more prosperous and sustainable future.