PH's London economic briefing seen to stir interest, attract investments: envoy


Posted at Jan 27 2023 10:34 AM

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The recent Philippine Economic Briefing held in London is seen to create more interest in the Philippines for UK-based investors, British Ambassador to the Philippines Laure Beaufils said on Friday. 

Finance Secretary Benjamin Diokno said during the briefing on Thursday that he announced the above-target growth in 2022 which was at 7.6 percent. 

"There were no immediate deals signed on the dotted line at that occasion but I think what it will lead to is a lot more conversations and a lot more interests in the Philippines and ultimately more investments," Beaufils said.

She added that there are London-based financial institutions, banks, and private sector organizations that are always on the lookout for new markets.

These investors are keen on updates about legislative changes such as the cap on foreign investments in renewable energy, Beaufils said.

The British envoy also highlighted recent "notable investments" between the UK and the Philippines such as Diageo's acquisition of Don Papa Rum as well as the joint venture between JV Inchcape and CATS Motors.