With the Philippines and the United Kingdom celebrating 75th diplomatic relations, the British Chamber of Commerce in the Philippines in partnership with the Philippine-British Business Council welcomed the new UK Ambassador to the Philippine Her Excellency Laure Beaufils.
Through the digital event entitled, “Welcoming strengthened UK-PH relations”, guest speakers and panelists, including the new UK Ambassador Laure Beaufils gave real insight on the importance of the passage of the three economic reforms amending, Retail Trade Liberalization Act, Foreign Investments Act and Public Service Act, which are expected to boost the foreign direct investment in the country.
Furthermore, UK companies remain positive on the Philippines’ long-term prospects as the UK helps provide long-lasting links in health, education and infrastructure. On top of this, Ambassador Beaufils also looks forward to a more strengthened partnership between the two countries by establishment of dialogues on the five pillars namely; economic and trade, climate and environment, consular, defense and security and political.
Meanwhile, Chris Nelson, British Chamber of Commerce Philippines Executive Director and Trustee expressed the same sentiment and noted that he is expecting the immediate passage of reforms amending the Retail Trade Liberalization Act, Public Service Act and Foreign Investment Act.
“The Chamber strongly believes these measures will be integral to jumpstart the country’s economic recovery. Several calls have been made already from local and foreign business groups urging the passage of these bills,” Nelson revealed. He also noted, that the urgency of passing these economic reforms given the continuing critical challenges brought by the pandemic will pave the way to open up the economy going forward,” he added.
Among featured speakers and panelists were the new UK Ambassador Laure Beaufils, Wiliam Bailey, Chairman of British Chamber of Commerce Philippines, Joseph Incalcaterra Chief ASEAN Economist of HSBC and Graham Fitzgerald, President & CEO of HSBC Philippines. The Regional Director of UK Department for International Trade Manila, Richard Colley was also present and delivered the closing remarks. The panel discussion was moderated by Jade Currie, Regional Editor for Asia, Oxford Business Group.
