The United Kingdom (UK) plans to hold another business mission in the Philippines in the first quarter of next year, said British Chamber of Commerce of the Philippines (BCCP) chairman Chris Nelson.
In a briefing Friday, Nelson said the upcoming trade mission from the UK signals the strong interest of British firms in the country.
Next year’s trade mission will be a follow-up visit of British Prime Minister’s Trade Envoy to the Philippines Richard Graham, who led a business delegation in August.
“The Philippines is attracting attention with its fundamentals, like young and growing population and economic growth of about 6.0 to 7.0 percent,” Nelson said.
He mentioned that BCCP welcomes the 10-point economic agenda of the current administration.
In particular, British firms are supportive of amending some economic provisions in the Constitution to allow more entry of foreign players here, as well as boosting infrastructure spending to address infrastructure gaps.
The BCCP executive added that British companies are constantly seeking for local partners to invest here.
In investing in the country, Nelson said British firms consider the incentives offered by the government, the cutting of red tape, and the ease of doing business.