The Danish Ambassador designated to the Philippines, Mr.Franz-Michael Mellbin stated that by cutting red tape and preventing corruption, the Philippines can effectively become a foreign investment destination.
“Red tape has to come down. Red tape is a business killer. It does not help business a lot. You know, when I talk to businesses they worry about red tape. They’d like to come here,” said the Ambassador during a special interview with The Manila Times.
Generally, red tape is defined as excessive regulation or rigid conformity to formal rules that is considered redundant or bureaucratic and hinders or prevents action or decision-making. And the term can be applied to both government and business sectors. (The Economic Times)
Ambassador Melbin also highlighted that putting structural effort into preventing corruption is crucial for leading the Philippines forward.
“I think political will is more important than legislation. Denmark is the country in the world with the least corruption. So, corruption is actually extra worrying for Danish investors,” he said.
Determinedly, both countries are to continue strengthening their corporations in the areas of agriculture, energy, maritime sector, digitization, security and sustainability.