By Alithea De Jesus
Despite the challenges in the global economy brought by the Russian invasion of Ukraine, many British investors see the Philippines as a valuable investmenet market. This was recently revealed by British Chamber of Commerce Philippines (BCCP) Executive Director and Trustee Chris Nelson to THEPHILBIZNEWS.
Nelson who is currently in London now revealed the overall outlook of the economic and investment relations between UK investors and the Philippines remains high.
“The UK values highly the Philippines,” says Chris, “Last year was the 75th year of diplomatic relations. President Marcos Jr. has very good relations with the UK…so, there are very strong ties,” he said.
Nelson also pointed out that the British Embassy is looking for further developments and investments from the UK – such as the new British Investment Fund for green energy and other areas of key focus. In addition, despite the British pound depreciating by 8%, British companies are still looking forward to business opportunities and foreign investments in the Philippine market.
Goods may also become competitive in the Philippines. However, more British companies are still hopeful about business opportunities in the country despite the food inflation and price inflation. In this global economy, therefore, British businesses look forward to stronger trade and investment partners for the future, and strengthen supply chains in the country – which the British Chamber strongly supports.
This indicates that many business and economic interests are observed as these UK-Philippine relations are developed. Notwithstanding the new Philippine administration and the current pound depreciation, Nelson also discussed other new policies, as well as other important updates.
