More effort needed to attract foreign direct investments

The Philippines should continue to improve its business climate to attract more foreign direct investments (FDI), according to Philippine Chamber of Com-merce and Industry (PCCI) President Miguel Varela.

According to him, foreign investors are eyeing entry into the integrated economies of the Association of Southeast Asian Nations (Asean), whose market is composed of 600 million consumers. He said that investors consider sustainability, stability and clarity of economic reforms as very important factors before deciding to invest.