During the LIVE interview in a media outlet on April 24, British Chamber’s Executive Director and Trustee Chris Nelson shared that the UK’s British Investment Partnership (BIP) initiative which was launched last month will reinforce UK-PH trade relations.
As the UK intends to mobilise up to £8 billion of financing a year by 2025, this will help in the ease of doing business — highlighting the 77 years of diplomatic relations between the UK and the Philippines.
The British International Investments (BIP), an initiative from the British Embassy, focuses on certain key segments such as the renewable energy. One of the projects that is already approved is the solar project in Negros which will be supported.
The visit of the UK Prime Minister’s Trade Envoy to the Philippines Richard Graham MP in Manila will serve as an opportunity to bring new investors.
“We’ve discussed many times [about] opening up the economy; and the Philippines has made some very strong moves in that aspect — and I think [the visit of] Richard [Graham MP] will be following on from that. And obviously renewable energy [is one], but investing in other sectors is always now on the minds of British companies,” Nelson said.
Furthermore, Nelson shared that there is a need to boost and further liberalise the Philippine economy. This includes the strong support of the British Chamber for economic provisions in the constitution and other initiatives that will break the country’s economic barriers in making the Philippines a gateway to Southeast Asia
As the UK intends to mobilize up to £8 billion of financing a year by 2025, this will help in the ease of doing business — highlighting the 77 years of diplomatic relations between the UK and the Philippines.
The British International Investments (BIP), an initiative from the British Embassy, focuses on certain key segments such as the renewable energy. One of the projects that is already approved is the solar project in Negros which will be supported.