Alderman Alan Yarrow, the Lord Mayor of the City of London, here in Manila for two-day visit is promoting British capabilities in public-private partnerships (PPP) and financial and professional services in the Philippines.
“The Philippines has been incredibly successful particularly for the last four to five years.
We have seen very good economic growth coming out in the Philippines. It is the country of choice for a good number of companies to outsource their back offices. Consequently, the world is coming to the Philippines,” he said.
“We can support the Philippines either in financing, project management, design your projects through Public-Private-Partnership (PPP), he added.
Yarrow said that availability of capital is very important. Those companies that rely in bank finance is very difficult to grow but with good capital market they find it easier because they could access capital through broader spectrum.
Also he said tax rates should be predictable.
The Lord Mayor is the ambassador for the UK based financial and professional services industry, and is visiting Manila as part of his trip to South East Asia including Myanmar and Thailand.
During his visit, he will be meeting with the key government officials including the heads of Congress, Department of Finance, the Central Bank, and the PPP Center as well as senior executives from top UK and Philippine companies. He will also visit the Philippine Stock Exchange to meet the board members and address the trading community.
This visit is part of the UK’s sustained efforts to deepen commercial links with the Philippines, and seeks to double trade with the Philippines.