Economic managers set UK roadshow for infra

Philippine economic managers are set to hold a roadshow in the United Kingdom in September to drum up interest from British firms to take part in the government’s Build Build Build program which seeks to promote infrastructure development.

Trade Secretary Ramon Lopez held a meeting last week with British Ambassador Daniel Pruce to discuss the upcoming roadshow of Philippine economic managers to the UK.

“Meeting with UK Ambassador was basically to discuss the planned investors roadshow toward September,” he said.

He said the meeting also covered discussions on how to enhance the economic relations of the Philippines and the UK.

The Philippines would like to encourage more British firms to do business in the country, he added.

Lopez said the government would want “UK companies’ participation in Build Build Build such as in info and technology systems, green technologies and design services.”

The Build Build Build program is being implemented as infrastructure development has been identified as among the priorities of the Duterte administration.

Lopez also said the two countries want to work together to improve trade ties.

Both countries would continue to work under the UKPhilippines Joint Statement of Intent for enhanced economic cooperation following the passage of the Ease of Doing Business law.

Last May, President Duterte signed Republic Act 11032 or the Ease of Doing Business Act of 2018 which seeks to solve bureaucratic red tape in government institutions.

The law standardizes the processing time for government transactions.

In particular, government agencies are required to process simple transactions within three days, complex transactions in seven days and highly technical transactions in 20 days.