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By Rhick Lars Vladimer Albay
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January 30, 2018
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ILOILO City – The British Chamber of Commerce Philippines (BCCP) is set to bring a large business delegation from the United Kingdom to Iloilo City this coming March to encourage more businesses to expand in the Visayas region.
BCCP chairman Chris Nelson told ANC that they are expecting over 50 delegates and 100 attendees to join their Iloilo Trade Mission this coming March 8 to 9.
Following last year’s successful trade mission in Davao, the BCCP is visiting Iloilo City this year to encourage more UK companies to invest in the Philippines and for existing companies to expand operations in the Visayas region.
The National Economic and Development Authority (NEDA) earlier forecasted that the average growth rate in the Visayas region will be higher than the government’s targeted national GDP growth for 2017-2022. In addition, there’s a growing interest of British companies in regional investment opportunities in the county.
“We saw a forecast that could put the Visayas region between 8 and 9 percent [when it comes to economic growth], so if we have the Philippines growing at 6 and 7 percent, that of course shows growth at a faster rate,” said Nelson.
From the previous trade mission to Davao, two member companies of the BCCP have already started investing in the Mindanao hot spot. The two firms are SeaGard Marine Asset Protection and YLF Contracts and Cost Solutions. Edinburgh-based Seagard provides monitoring and protection services while Manila-based BCCP member YLF is an engineering consultancy firm.
Nelson hopes to build the same business ties in Iloilo City and encourage even more investments in the developing metropolis.
“We’re very much looking into building relationships long-term. Iloilo is becoming a very progressive city and has great potential to grow even more,” shared Nelson. “It’s obviously got businesses there that are developing like in agri-business and manufacturing – [the Iloilo Trade Mission] is a show of our overall support to the [Duterte administration’s] 10-point economic plan, to look at economic development outside Metro Manila.”
Nelson shares that Ambassador at British Embassy Manila Daniel Pruce and Budget and Management secretary Benjamin Diokno Secretary have confirmed their attendance for the upcoming mission, and hopes that Department of Trade and Industry secretary Ramon Lopez can join them in Iloilo as well.
The trade mission, to be held in celebration of the annual GREAT British Festival, will highlight a Trade & Investment Forum on March 8 at Richmonde Hotel, aimed to facilitate a dialogue between the government and private sectors, as well as present business opportunities in Iloilo and the Visayas as a whole.
Meanwhile, site visits to the Iloilo Business Park, Iloilo Commercial Port Complex, the Southeast Asian Fisheries Development Center, and other homegrown industries are scheduled for the second day of the trade mission./PN
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