MANILA, Philippines - The Philippines has a lot to offer British companies in terms of opportunities in infrastructure and other areas, the Lord Mayor of the City of London told reporters Tuesday. For one, British companies see the possibility of participating in railways, airports, ports, and other infrastructure projects of the Philippine government, Lord Mayor David Wootton said.Transportation and Communications Secretary Manuel “Mar” Roxas II seems “keen on UK companies participating in infrastructure projects” here, he said.
The Lord Mayor met with President Benigno Aquino III, Roxas, and other Cabinet members on Monday, the first day of his two-day visit. He said this trip, after the last Lord Mayor’s visit six years ago, shows the “increasing importance of the Philippines to the UK” because the country’s “economy is going in the right direction and its economic indicators are increasing, and better than ours,” and because UK businesses are already here, with an “increasing number of opportunities not just in infrastructure but also in design, engineering, project management, operation and maintenance.”
The Lord Mayor also stressed that business process outsourcing is “one of the strengths of the Philippines,” noting that big British firms are huge BPO companies in the country.
“The Philippines has a lot to offer,” he said. He said his visit to the Philippines shows the country’s “importance in the Southeast Asian region. It is the most relevant in the business context.”
The emphasis of the meeting with the President was “infrastructure and government transparency,” the Lord Mayor said. The other Cabinet secretaries in the meeting included those from the Departments of Foreign Affairs, Trade and Industry, Finance, as well as the heads of the Securities and Exchange Commission and the Insurance Commission.
The Lord Mayor said Finance Secretary Cesar Purisima assured him of the “increasing economic stability of the financial regulation regime.”-Interaksyon (May 22, 2012)
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