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UK companies see more opportunities in PH, as BCCP awaits for gov’t economic stimulus plans

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Photo collage of BCCP Executive Chairman Chris Nelson from THEPHILBIZNEWS

By Monsi A. Serrano

British companies and businessmen set eyes on the Philippines’ post COVID19 plans, that is according to the British Chamber of Commerce Philippines’ Executive Chairman, Chris Nelson.

Speaking to THEPHILBIZNEWS, Mr. Nelson who is now in London said, that BCCP is stepping up to promote opportunities in the Philippines to the UK companies and businessmen.

“Yes, I do see more opportunities for the Philippines. However, this will depend a lot on how the Philippine government would deal with the economic plans such as continuing to open and the announcement of the stimulus plans,” Mr. Nelson added.

“From the BCCP and as Executive Chairman of BritCham, we are increasing our efforts to promote opportunities to our partners in the UK. So far, no one from the British companies and members of the chamber has pulled out its investment. Needless to say, we continue to endeavor to strengthen our membership because we are hopeful that the government will explore the possibility of addressing the issue on the lockdown,” the BCCP Chairman added.

“There are several companies that expressed their interest to do business in the Philippines post-COVID19, and these are the ones in the food and beverage, education, energy, automotive, beverage, and technology,” Mr. Nelson added.

“It is really tough now to go and visit these  British companies and businessmen personally just like what we are used to be doing. But we communicate with them online, which s helpful but very limiting. As inevitable, delays in the release of the investment of these companies will happen obviously because of the travel restrictions now,” he explained.

BCCP Members

When asked about the sentiment of more than 300 members about the COVID19 situation, Mr. Nelson said, “We are expecting some new members joining us despite the situation. Meaning we are hopeful and with the continuous inquiries we got and expressed of intentions to explore their interest in the Philippine market, this is something promising.”

“But we don’t want to lose sight of focusing on the crisis. That is why everybody’s eyes are set on the post COVID opportunities and how to seize these and make it materialize,” Mr. Nelson explained.

“Quite frankly, we all look at long-term plans and prospects. And I am sure, that is the right attitude now. We are hopeful that the government will ease up the lockdown in Metro Manila, and impose strict lockdowns in the areas identified as high-risks. Also, we really hope that the government will step up on the Accelerate Recovery and Investments Stimulus for the Economy (ARISE) bill, a P1.3-trillion three-year economic stimulus,” Nelson added.

“With the Philippine unemployment rate surged from 5.3% in January 2020 to 17.7% in April 2020, the Accelerated Recovery and Investments Stimulus for the Economy (ARISE) Philippines Act. must be addressed with utmost urgency as this is one of the critical ways that need to jumpstart our economy by supporting the employment opportunities and the MSMEs which comprise more than 99% of the enterprises in the country,” the BCCP Chairman concluded.

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