British Chamber Urges PH Govt To Liberalize Philippine Market

The British Chamber of Commerce of the Philippines said the 2023 wishlist of investors includes further opening the Philippine economy.

Executive director and trustee of the British Chamber Chris Nelson cited President Ferndinand Marcos Jr.’s plan for reforms to accommodate more business investments.

“President Marcos [Jr.] has referred to a further reduction in red tape or easing of bureaucracy for companies to come in,” Nelson said.

The British Chamber also emphasized the commitment to promote and make the Philippines an investment destination, boost infrastructure developments and digitalization, and ratify the Regional Comprehensive Economic Partnership (RCEP).

UK businesses consider the Philippines as an important investment area amid the global recession. Businesses specifically want to invest in the food, beverage, and renewable energy sectors.

The British Chamber and Ambassador Laure Beaufils are currently working together to create more business opportunities in the country.

UK-Philippine diplomatic relations remain strong as the Chamber continues to support and assist various small to medium enterprises.

Source: Philstar