More British firms now eyeing to invest in Phl
Cebu's dynamic tourism sector coupled with President Rodrigo Duterte's buildbuild-build program has attracted British investors to consider investing in the Philippines.
In his first visit to Cebu, British Ambassador to the Philippines Daniel Pruce said British capitalists are now looking at opportunities in tourism business in Cebu owing to the province's remarkable performance in tourism with increasing Brit nationals visiting Cebu as tourists.
Likewise, the Philippine government's implementation of the build-build-build program stirred the interest of UK-based companies to be part of building bridges, roads, buildings, among others.
The Ambassador who served Great Britain's Her Majesty for years, said that although the interest of British
companies to invest in the Philippines has remained diverse, but what caught their eye right now is the vibrant construction and tourism sectors.
He mentioned the participation of two British companies to the construction of the new Mactan International Airport (T2), which is one of the examples of Brits' eagerness to be part of the infrastructure build up in the Philippines.
Part of Pruce's itinerary
in his first diplomatic visit to Cebu was also to tour the new Mactan Cebu International Airport.
He also met with different government agencies to discuss about safety of British tourists visiting Cebu.
He acknowledged that a growing number of British nationals are now making Cebu as their holiday destination with 45 thousand Brits recorded to have visited Cebu as of 2018.
According to Pruce, UK
and the Philippines trade and commercial relations remain tight. In fact, more Filipino companies are now making presence in Britain such as Jollibee, and Emparador's partnership deal with a British firm.
Last year, Department of Finance secretary Carlos Dominguez expressed optimism that more investments from the UK would enter the Philippines in the coming years, “especially in the sunrise sectors of our economy.”