MANILA, Philippines — The British Chamber of Commerce and Industry is optimistic of the Philippine economy’s prospects this year.
Against this background, the chamber is set to host an Economic Outlook and Second Virtual Trade Mission this year, following the success of the first virtual trade mission last October which attracted UK companies across different sectors.
Last year, despite disruptions from the pandemic, the business group had successfully “introduced British brands” to the local market in the food and drink, construction, engineering and automotive sector, executive director and trustee Chris Nelson said in a statement.
“Thus it remains optimistic and will continue to promote the UK-PH Trade in 2021,” he added.
On the policy front, the chamber said economic bills that open up the economy to investments, and which are currently pending in Congress, bode well for recovery. These bills include the Retail Trade Liberalization Act and Public Service Act.
“The chamber strongly believes that the Philippines positioned as gateway to Southeast Asia will remain attractive for long term investments…,” the chamber said.