The United Kingdom is keen to join the Philippine government's public-private partnership (PPP) initiative as it wants to expand trade relations with the key emerging economy, British ambassador said here Friday
British Ambassador to the Philippines Stephen Lillie said his country is looking into opening up investments and implementing bilateral aid programs to promote trade and regional integration in the Asian country.
"There is a lot of interest in the area of PPP and we are looking at how we can support key Philippine government agencies and local governments in driving the program forward. With strengthened Philippine-British trade relations, there is a real opportunity to drive economic progress," Lillie said.
As proof of its commitment, the envoy said Britain recently concluded trade negotiation training in partnership with the Philippine Chamber of Commerce and Industry.
Investors in the past were discouraged from doing business in the country as the rules governing infrastructure projects could suddenly change "without warning" after contracts have been signed with the government.
Lillie earlier said the government must immediately tackle corruption and poor infrastructure if the Philippines wants to achieve its full potential in terms of economic growth and poverty reduction.
Systemic corruption in the military had also been exposed recently at Senate investigations, wherein millions of pesos worth of government funds were allegedly pocketed by top military officials.
The United Kingdom is the largest investor in the Philippines for the past decade. Combined net foreign direct and net portfolio investments from 1999-2009 amounted to 9.7 billion U.S. dollars.
British Ambassador to the Philippines Stephen Lillie said his country is looking into opening up investments and implementing bilateral aid programs to promote trade and regional integration in the Asian country.
"There is a lot of interest in the area of PPP and we are looking at how we can support key Philippine government agencies and local governments in driving the program forward. With strengthened Philippine-British trade relations, there is a real opportunity to drive economic progress," Lillie said.
As proof of its commitment, the envoy said Britain recently concluded trade negotiation training in partnership with the Philippine Chamber of Commerce and Industry.
Investors in the past were discouraged from doing business in the country as the rules governing infrastructure projects could suddenly change "without warning" after contracts have been signed with the government.
Lillie earlier said the government must immediately tackle corruption and poor infrastructure if the Philippines wants to achieve its full potential in terms of economic growth and poverty reduction.
Systemic corruption in the military had also been exposed recently at Senate investigations, wherein millions of pesos worth of government funds were allegedly pocketed by top military officials.
The United Kingdom is the largest investor in the Philippines for the past decade. Combined net foreign direct and net portfolio investments from 1999-2009 amounted to 9.7 billion U.S. dollars.
