British Chamber promotes further liberalizing the Philippine economy with 'Build, Better, More' event

MAKATI CITY, Philippines — On July 13, 2023, the British Chamber of Commerce Philippines (BCCP) hosted the event titled, “A Year After: Build, Better, More” at Fairmont Hotel. 

The event is in line with the British Chamber’s goals for 2023, particularly to further liberalize the Philippine economy and boost infrastructure projects.

House Speaker Martin Romualdez shared a video message stating, “I am honored to have this opportunity to address the British Chamber of Commerce of the Philippines on this auspicious event. The positive economic outlook predicted for the Philippines in 2023 makes this occasion even more significant. In this era of opportunity and growth, we seek partnership and collaboration with the United Kingdom’s business community.” 

Aside from the key achievements under a year of leadership under President Marcos Jr. which will be discussed in his second State of the Nation Address (SONA), the event also highlighted the future plans that will continue the momentum of economic growth.

"For 2024, we have the administration's eight-point socioeconomic agenda. We have three categories. The first one, strengthening the purchasing power of the Filipinos. The second one is to reduce vulnerability and mitigate scarring from the COVID-19 pandemic. And number three, to ensure sound macroeconomic fundamentals," Department of Budget and Management Assistant Secretary Romeo Matthew Balanquit said.

Deputy Head of Mission Alistair White represented the British Embassy Manila. Other speakers include key representatives from the government in Department of Transportation, Department of Finance, National Economic and Development Authority and and Department of Information and Communications Technology. The panel discussion was moderated by Aaron “Ace” Escartin from SGV & Co. 

BCCP Member, HSBC Philippines’ President and CEO Sandeep Uppal also attended the panel with the guest speakers. He also shared that HSBC believes that with the right infrastructure, the Philippines can be the most attractive market for both services and manufacturing in ASEAN with the right infrastructures.

The event was supported by partners from HSBC and Fairmont/Raffles Makati, and partner SGV & Co. Further, the British Chamber continues to advocate for initiatives that would further liberalise the Philippine economy, improve the ease of doing business, and boost the infrastructure and digitalisation of the country towards its goal of becoming an investment destination.