The Manila Times : British Chamber congratulates Bongbong Marcos

By The Manila Times

DURING the ANC's special election coverage on May 10, Chris Nelson, executive director and trustee of the British Chamber of Commerce Philippines, congratulated Ferdinand "Bongbong" Marcos Jr. for winning the Presidential election.

Nelson also commended the high turnout of Filipino voters from the recently concluded national elections, showing vibrancy and proving the strong practice of democracy in the country.

Looking forward, the British Chamber expects policy continuity under the new administration, particularly on further liberalizing the economy, the ratification of the Regional Comprehensive Economic Partnership (RCEP) and the implementation of the Build, Build, Build program.

"With the recent significant success of amending the Retail Trade Liberalisation Act, Foreign Investment Act and Public Service Act, these measures provide investors certainty that the Philippines is heading positively and creating a more competitive business environment," he said.

The British Chamber has worked hard pushing for the passage of the aforementioned reforms and is an active advocate promoting these changes to UK companies.

Finally, the Philippine economy grew faster than expected, recording an 8.3 per cent growth year-on-year in the first three months of 2022, the PSA reports. In this regard, the Chamber hopes this will be sustained and even exceeded by the new leadership.

"We are confident that these reforms will increase foreign investment inflows, which would lead to the creation of additional job opportunities, crucial in supporting the Philippines' post-pandemic recovery. Looking ahead, the Chamber anticipates working with the new administration as it closely worked with the Duterte administration," Nelson concluded.