EU urges reform in PH procurement system

THE European Union has urged the Philippine government to do more in improving the transparency and competitiveness of its procurement system as it plays a key role in attracting job-generating investment into the country.

In a forum on Tuesday, Ambassador Guy Ledoux of the Delegation of the European Union to the Philippines, said the country has made progress in terms of attracting foreign direct investment (FDI), noting that inward FDI stocks in the country increased to 25 billion euros in 2013, mostly originating from the EU, from 10 billion euros in 2004.