Despite the tragic hostage-taking in Manila two weeks ago, the Joint Foreign Chamber of Commerce said the Philippines remained a good place for investments.

But Shameem Qurashi, president of the Philippines Association of Multinational Companies Regional Headquarters, said the government must continue to improve the situation. 

He said although it is too early to determine if investments in the country would drop after the incident, he believes the Philippines can overcome the bad press if the government improved the climate for doing business. 

“Of course, it is a good place to invest, otherwise we won’t be here. Let’s wait and see. If the government does a good job, if the government ensures transparency, if the government improves the situation, obviously, the Philippines is a good place to invest,” Qurashi said at the sidelines of the launching of Partnerships in Governance at Microtel Hotel at the SM Mall of Asia in Pasay City.

He said despite the setbacks to tourism and allied sectors from the August 23 hostage-taking that ended with the deaths of eight Hong Kong tourists, the country has still an edge in agribusiness, business-process outsourcing, creative industries, infrastructure, manufacturing and logistics, mining and tourism.

“It happens all over the world. So we shouldn’t overblow it. Well, obviously all acts of terror will affect [people] but the question is we shouldn’t overblow it. This is not the only country where there are problems. . . .I don’t think we should overplay that [incident]. We can’t keep running on. The world does not stop spinning,” he said.

 He also said the Philippines has the advantage of an English-speaking labor force and the Filipino culture of being friendly. “[The Philippines is] very good place for regional headquarters like our chamber.”

 European Chambers of Commerce president Hubert D’Aboville, on the other hand, said, “I came back from France yesterday. Just last week, I had a meeting with 25 French companies and we are looking to explaining to them what is the situation in the Philippines and so on. I can tell you nobody during the meeting that lasted two hours asked me about this tragic event. Let’s be a little bit more cool about it. Let’s focus ourselves on the bigger picture. We were just focusing on the seven big winners.”  

 D’Aboville said the tragedy should prompt the government to start proper training for its police and other law-enforcement agencies. He said members of the European Union were willing to share their expertise.

 Labor Secretary Rosalinda Baldoz said so far there has been no change in the volume of deployment and in the processing of the contracts since the incident.

“For as long as there are employers who are interested [in] our workers and they are qualified, then the deployment will be processed by the Philippine Overseas Employment Administration.”   

“And even our office in Hong Kong, I talked to them and there has been no change in the registration of job orders,” she said. Except from the two documented cases of anger directed by their Chinese employers at them, the office has not received any other report of maltreatment of Filipino domestics, Baldoz said.

 On Monday  the Labor department and the Joint Chambers of Commerce, an umbrella organization of JFC, signed a memorandum of agreement to develop the competencies and competitiveness of Filipino workers, to develop facilitation services for full and decent employment of these workers, and promote industrial peace based on social justice.

The labor department also plans to pursue the development of a code of ethical conduct in the recruitment of workers both for the local and overseas employment recruitment.