UK exploring infra opportunities, studying Iloilo ports, airport construction

THE United Kingdom (UK) remains committed to supporting the government’s building program, and is currently looking at opportunities in Iloilo, where it hopes British companies can add value to transport infrastructure projects.

UK officials made the announcement at a joint meeting of the Makati Business Club, the British Chamber of Commerce in the Philippines and the Philippine-British Business Council.

The British Embassy’s Trade and Investment Director Mike Moon told BusinessWorld that Ambassador Daniel Pruce has visited Iloilo to assess the possibility of supporting port development projects.

Meanwhile, Mr. Moon will visit Cebu, whose airport could be a model for future foreign participation.

“[Tomorrow] I’m going to look around MactanCebu [International Airport] so we’re looking at the example they have,” he said.

“It’s the only private airport in the Philippines so there’s no reason why that model can’t be used in other [areas]. There’s no reason why that example can’t be used in other airports across the Philippines.”

In September, the UK committed to provide loan export credit of up to £4.5 billion for infrastructure projects with British participation.

Current projects with British involvement include developing the Port of Mariveles and the new Clark Green City, Mr. Moon said.

Mr. Moon also said that the embassy will also be announcing in a few weeks some engagements between the two countries related to science and technology.

“We think sometime soon, there’ll be some announcements about the use of British satellites so that will be likely coming out on the next few weeks. We hoped to announce it today but we quite couldn’t get it done on time,” he said.

Speaking to the chambers, Mr. Pruce highlighted the urgency of new trade arrangements in view of the UK’s impending departure from the European Union (EU).

“Turning to the commercial relationship, things look equally positive. The UK is the leading EU investor in the Philippines with just over £1 billion worth of investments and we are the third largest in the world with only US and Japan ahead of us,” he said.

“Exports of goods increased by 38% in 2015, and our total exports to the Philippines in that year are about £628 million. The two-way trade is about £1.5 billion. We have over 200 British companies active here in the Philippines.” The Philippine Statistics Authority said in October that the UK is the country’s 19th largest trading partner.

Mr. Pruce was appointed British ambassador to the Philippines in June and presented his credentials in September.

Mr. Pruce added that the UK is ready to help the Philippines in the rehabilitation of drug users, in implementing measures to counter the radicalization of violent extremists, and in improving cybersecurity.

Mr. Pruce added that London remains committed to improving transparency in countries it engages with.

“We argue across the globe for domestic reforms to reduce corruption and increase and transparency and accountability. We’re using our own resources to achieve that so we’re working here in the Philippines from the Prosperity fund — a large cross-government fund, to tackle infrastructure,” he said.

Mr. Moon said British investors welcome the conclusion of the Marawi siege as a sign of the improving security situation in parts of the country.

“Obviously, the companies, the HQs will keep an eye on what’s happening on the security side in the Philippines but again on that there’s been some positive developments in the end of the fight in Marawi,” he said.

Mr. Moon confirmed that the final permits to allow the resumption of British beef exports to the Philippines were signed last week, though the timetable for shipments has yet to be determined. —