The European Chamber of Commerce of the Philippines (ECCP) is pushing for key priorities for 2024 with emphasis on investments in the aviation sector ahead of the 2024 Aviation Summit in October 2024.
The ECCP, in a meeting with Philippine Economic Zone Authority (PEZA) director-general Tereso Panga, laid the groundwork on formulating a national aerospace plan, upgrading airport infrastructure and addressing regulatory gaps within the Civil Aviation Authority of the Philippines (CAAP) and the Philippine Transportation Safety Board (PTSB).
ECCP also identified crucial priorities like the ratification of the Montreal Protocol 2014 and the Cape Town Agreement, emphasizing the importance of enhanced aviation safety systems and regulatory efficiency.
Panga said PEZA and ECCP agreed to collaborate on several events geared towards attracting investments from European Union and other countries including the upcoming 2024 Aviation Summit in October.
The summit aims to raise awareness on aviation’s critical role in Philippine economic growth. It will be a platform to advocate for advancements in sustainability, efficiency and safety within the sector.
The ECCP with its nearly 800 member companies, provides a strong network for European businesses in the Philippines. They actively advocate for their members’ interests on economic issues, legislative measures and administrative regulations.
The ECCP said it is committed to working with foreign and local businesses, civil society and academe as a co-founder of the Joint Foreign Chambers of the Philippines (JFC).
It also raised potential impact of certain provisions of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law on aviation industry locators during the meeting.
They intend to work towards solutions that ensure a thriving and competitive aviation landscape in the Philippines, Panga said.
PEZA is home to about 17 registered business enterprises (RBEs) into aviation/aerospace-related activities, including world-renowned companies such as Lufthansa, Collins Aerospace and MOOG.
There are over P19 billion worth of investments from aviation locators, moving $882 million of exports and employing about 9,000 workers.