PH gets good reviews in London

Philippine trade officials conducted a successful trade mission in London last week, with expectations of new foreign investments coming in from companies based in the United Kingdom.

“The Philippines was very well received and we will get some investments from this mission as well as at least two inbound missions from the United Kingdom by the end of this year,” Trade Secretary Gregory L. Domingo said in a text message.

“London was a very successful mission wherein we held two investment fora on two separate days that were attended by around 200 and 90 people, respectively,” the trade chief added.

Domingo, however, did not identify the companies that expressed interest to do business in the country.

The DTI hopes to entice UK-based financial services companies, as well as British investors in automotive parts and animation to set up shop in the country.

The high-level business delegation in London last week was hosted by Lord Stephen Green of Hurstpierpoint, UK Minister of State for Trade and Investment, and was part of efforts to double bilateral trade between the Philippines and UK by 2017.

Officials of the DTI, its attached agencies and other state departments, along with representatives from the private sector, have been in Europe since last week to promote the Philippines as a lucrative investment destination.

After the London leg of this European trade mission, some of the officials joined Philippine food exhibitors in Germany for the Anuga Trade Fair, a roadshow in Stockholm, Sweden, and a visit to Finland.

Also included in the itinerary are Copenhagen, Denmark and Oslo, Norway, which will be visited this week by Lilia de Lima, director general of the Philippine Economic Zone Authority (PEZA).

Philippine officials are reportedly finding it easier to “market” the Philippines, which is “sweeping the positive current” brought about by the robust growth seen in the first half of the year.

Many investors are also now seeing the Philippines as a strong, emerging economy, after securing three investment grade ratings.