More UK firms eye investments in PH

The British Chamber of Commerce Philippines (BCCP) will have two trade missions later this year to translate the interest of United Kingdom-based companies into concrete investments that will benefit local industries and the economy.

In a briefing yesterday, BCCP chair Chris Nelson said the trade missions, which are scheduled in September and November this year, will help British companies explore the available business opportunities in the country. The missions will highlight dialogues with the public and private sectors through networking receptions, visits to economic zones, and one-on-one meetings between delegates and potential local partners.

They are eyeing to have at least 10 companies participating in each mission.

“We have more socials and business events on our calendar and we will collaborate with key business players, government, local and international partners particularly the UK Trade and Investment office to ensure we deliver the best service that our members deserve. We strongly encourage more companies to join BCCP as a member to expand their networks and avail of some business opportunities,” Nelson said.

The first trade mission in September will not be sector-specific as it will be geared toward raising awareness about trade and investment opportunities in the Philippines. It will be more about informing prospective investors on how to set up operations here, enabling them to explore the market, and showcasing the Philippines as an investment destination.

Nelson said the areas of interest of British companies range from seismic earthquake testings to real estate and construction.

Philippine government officials earlier said that UK-based firms are similarly interested in a number of increasingly lucrative industries in the country such as business process management, aerospace, public private partnership (PPP) projects, tourism, and insurance and finance.

UK-based companies continued to flock to the Philippines, which was seen to have grown to become “an exciting market” as “spending population continues to progress.”