Seven British companies have expressed an interest in investing in the Philippines, an official from the British Chamber of Commerce said.
“From April to May, seven British companies [showed]an interest to invest in the Philippines,” British Chamber of Commerce Philippines (BCCP) Chairman Chris Nelson said just before the weekend.
“These companies are interested in sectors like cosmetics, water waste, water technology, software products, auto lubricants and medical device. So, the seven companies requesting proposals from the chamber,” he said.
Nelson also said that besides the seven firms, two British companies are now setting up new offices in Davao, southern Philippines.
He named them as SeaGard, a dedicated marine asset monitoring and protection service company, and YLF Contracts and Costs Solutions Inc., an engineering consultancy firm.
These two companies joined a business mission in Davao in March, he said.
“SeaGard has signed up for business, while YLF – an engineering consultancy firm … already established an office in Davao,” Nelson said. YLF has a presence in Manila.
The British companies are looking at the business prospects in the country for the long term, beyond the expected period of Martial Law in Mindanao.
“Of course, they will be guided by issues on security. But when you look at it, business is a long-term prospect. And I think what people are looking at is, what is my long-term business prospect in the Philippines? What do I need to do? In any country, there will be short-term issues. Therefore, I think, companies are looking at developments for the long-term,” he added.