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Thursday, February 9, 2023

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UK companies see Phl as next potential hotspot for investment in the region

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British Chamber of Commerce Philippines Executive Director and Trustee Chris Nelson shared in HIS TV interview that the Philippines is the next potential hotspot in Southeast Asia.

“UK SMEs and MSEs are really focused on how quickly they can set up [in the Philippines], how quickly can they deal and set up businesses, and therefore – the process is very important,” said Nelson. 

This year celebrates the 77th year of diplomatic relations between the two countries which would create more opportunities. As mentioned previously, Ambassador Laure Beaufils said that the UK supports one of the sectors such as renewable energy by stating that “[it] will create jobs and opportunities, as well as address the energy crisis here in the Philippines.” On January 25-26, the Philippine economic managers headed by Finance Secretary Diokno will attend the Philippine Economic Briefing in London, UK to attract more UK investors to the Philippine Market. Ambassador Beaufils will also be participating in the upcoming event.

In addition to this, Nelson said that “we need to go out and continue to promote the interest and opportunities in the Philippines.” To support this, we need to see additional improvements in the ease of doing business, as well as further opening up of the economy and ratification of the Regional Comprehensive Economic Partnership (RCEP).

Given the Philippines’ vibrant and dynamic country, the British Chamber looks forward to supporting the country’s economic growth through strengthening relations between the UK and the Philippines.

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