United Kingdom remains optimistic in PH business climate, has more than £1B investments
Text and photo from Monsi A. Serrano
His Excellency UK Ambassador to the Philippines Daniel Pruce shared his insights about the Philippines’ business climate from the perspective of the United Kingdom.
In his talk during the 2019 Philippine Business Outlook Briefing attended by different company executives from the bank, information technology, manufacturing, retail and other sectors which was spearheaded by the British Chamber of Commerce Philippines, the UK Ambassador said that UK remains bullish with the business climate of the Philippines.
“The United Kingdom’s sentiment and interest on the Philippines’ business opportunity remains positive, and we hope that we would be able to entice more British companies to come to the Philippines and invest, “ Ambassador Pruce revealed.
“Currently, more than £1B British investments has been placed in the Philippines, and UK remains the leading European investor in the Philippines”, Pruce added.
But the British Ambassador also pointed out that the £1B British investments to the Philippines does not end there, as the United Kingdom will continue to bring in more investors to the Philippines and deepen the relationships of the Philippines and the United Kingdom.
Last year, officials from the Philippine government went to the UK to promote investment opportunities especially in the infrastructure development through the auspices of the Philippine Economic Briefing and BCCP Event with DTI Secretary Lopez in London.
The said trade investment promotion in the United Kingdom was attended by more than 250 business leaders from leading UK companies which was followed by a roundtable discussion with DTI Secretary Ramon Lopez.
Due to this effort, there were 20 UK companies who expressed their interest to know more about the business landscape in the Philippines. The roundtable discussion was jointly organized by BCCP and UK-ASEAN Business Council (UK-ABC) and this 2019, the British government and also the British Chamber of Commerce Philippines will continue to work hand in hand to get more investments from the UK and at the same time widen trade partnerships and opportunities between Philippines and the United Kingdom like import and export opportunities, bringing in British expertise in financial services and financial technology as well.
UK Ambassador Pruce also shared that the British influence in the Philippines will continue to grow and deepen further as the attraction of British to the Philippines, and investment will continue to flow to the country and the United Kingdom was very delighted to welcome Jollibee in their country, an indication that British will always support the Philippines in the trade promotion.
In closing, the British Ambassador hopes that on the part of the government it will continue to work on the business environment will continue to be positive, the ease of doing business be fast tracked and red tape (ARTA Anti-Red Tape Act), and that UK government and companies will continue to be hopeful and positive with their experience in the Philippines.
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