UK to promote business opportunities in Asia, Philippines

The United Kingdom government plans to beef up its investment in Asia by promoting business opportunities in the region, particularly in the Philippines. UK Secretary of State for Business Vince Cable said it noted the importance of these business opportunities to the British businesses’ emerging markets. “If we were looking for growth, we should be looking to Asia. Asia is driving the global recovery and its growing middle classes are seeking more of what we can produce,” he said.

With this aim, the British Government, through its UK Trade and Investment (UKTI) will be hosting a series of events from 2010 to 2011 around UK to galvanize more British businesses to tap Asian markets. British Ambassador Stephen Lillie will meet with investors in London next month, together with 10 other British envoys from Asian countries to encourage more British investment.
Lilie said, “The Philippines has engaged over nine years of continual economic growth. With a large English-speaking workforce, huge natural resources and a strategic location, the country has a very promising future. We hope that the incoming Philippine Administration will take active measures to make the country an even more attractive place to do business, including by curbing corruption and investing in infrastructure. At a time when an increasing number of British companies are looking at East Asia, the UKTI team at the British Embassy in Manila is ready to help identify opportunities in this fast-growing market.”
The UKTI has tied up with the RBS Group to help promote opportunities in Asia to their clients, provide experts from Asia at events, and run practical sessions advising on trade finance. For the past decade, UK has the largest investors in the Philippines with a combined net foreign direct and net portfolio investment from 1999-2009 amounting to $9.7 billion ($8.7 billion in portfolio investment and $930 million in FDI).

http://pinoybusiness.org/2010/06/26/uk-to-promote-business-opportunities-in-asia-philippines/ 

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