The British Chamber congratulates Bongbong Marcos

Special ANC election coverage on May 10 with Chris Nelson, Executive Director and Trustee of the British Chamber of Commerce in the Philippines. CONTRIBUTED PHOTO

DURING the ANC’s special election coverage on May 10, Chris Nelson, Executive Director and Trustee of the British Chamber of Commerce in the Philippines, congratulated Ferdinand “Bongbong” Marcos Jr. on winning the presidential election.

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

Looking ahead, the UK House expects political continuity under the new administration, particularly with regard to the further liberalization of the economy, the ratification of the Regional Comprehensive Economic Partnership (RCEP) and the implementation program work Build, Build, Build.

“With the recent significant success of amending the Retail Trade Liberalization Act, the Foreign Investment Act and the Civil Service Act, these measures give investors confidence that the Philippines is heading positively. and create a more competitive business environment,” he said.

The UK Chamber has worked hard to push through the above reforms and is an active advocate in promoting these changes to UK businesses.

Finally, the Philippine economy has been growing faster than expected, recording 8.3% year-on-year growth in the first three months of 2022, reports the PSA. In this regard, the Chamber hopes that this will be supported and even surpassed by the new management.

“We are confident that these reforms will increase the flow of foreign investment, which would lead to the creation of additional employment opportunities, essential to support the post-pandemic recovery of the Philippines. Going forward, the Chamber plans to work with the new administration because it has worked closely with the Duterte administration,” Nelson concluded.

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