Reforms urged to make doing business easier

MANILA, Philippines -  The United Kingdom has urged the Philippines to institute further reforms aimed at making doing business in the country easier.

Peter Wilson, director of the Asia Pacific Directorate of the United Kingdom’s Foreign Office in London, said further investment liberalization and reforms in business will definitely boost British foreign direct investment in the Philippines.

The 2nd Philippines-United Kingdom High Level Meeting ended on a high note on Monday as both delegations noted the “excellent relations” between the two countries and expressed confidence that bilateral relations, particularly on economy and trade, will continue to strengthen.

Wilson headed the UK delegation while Foreign Affairs Undersecretary Erlinda Basilio headed the Philippine delegation.

“The UK government is placing a great deal of emphasis in the Philippines. This is an important initiative by our government to look very carefully at the political and economic opportunities represented by the shift in power in the world to the east and to the south. These talks are a very important illustration of that,” Wilson said.

Wilson said the UK is the largest European investor in the Philippines and the trade between the two countries is increasing very rapidly noting the huge growth of the Philippine economy.

“Your growth last year of over seven percent, the highest in 35 years, is one that has gone very much noticed in the UK. The interest in our companies of doing business in the Philippines and the interest that we have in attracting Philippine investment to the UK is very strong,” he added.

Both parties are keen on pursuing Public-Private Partnership (PPP) projects, particularly in transportation, oil and other infrastructure projects. The UK government has shared some of its expertise by bringing in two PPP experts early this year to talk to key government agencies and local government officials. 

Wilson is hopeful that more consultations in London can be arranged to take advantage of the huge amount of PPP expertise in the UK.