British Chamber eyes Iloilo for next trade mission

Rodney Artida, Arem Bolalin | February 6, 2018

Photo from Philippine Star

The British Chamber of Commerce in the Philippines (BCCP) is now aiming to bring a large business delegation in Iloilo City next month to amplify the interest in the fast growing Visayas region.

BCCP Chairman Chris Nelson said that they are expecting to have 50 companies join their trade mission in Iloilo City this March 8-9, 2018.

Nelson added that the delegation includes both British and Filipino firms who might have plans to expand their business in the region.

The trade mission is held in celebration of the annual Great British Festival which will highlight a trade and investment forum on March 8 to present business prospects in Iloilo and the Visayas as a whole, and as well as a discourse between the government and private sectors regarding the spur of economy development in other areas of the nation.

Meanwhile, site visits to Iloilo Business Park, Iloilo Commercial Port Complex and the Southeast Asian Fisheries Development Center and other local industries will be scheduled on the second day of the trade mission.

Last year, the British chamber led a trade mission in Mindanao’s economic hotspot which generated two British firms, SeaGard Marine Asset Protection and YLF Contracts and Cost Solutions to do their business in Mindanao, while other companies who joined the trade mission is still on their planning stage.

Nelson also added that they wanted to exceed the number of companies they brought in Davao City, citing that the region is enjoying an unprecedented growth in their economy.

“Why the Visayas? While the Philippines continues to enjoy a high growth rate, the Visayas, according to Neda, is enjoying an even higher growth rate,” as Nelson stated.

Earlier this year the National Economic Development Authority (NEDA) forecasted that the growth in Western Visayas region would be at 8 to 9 % which exceeds the target 7-8% national GDP growth for 2017-2022.

The entire country is also expected to have an average annual growth of 7-8 percent until the end of the term of President Rodrigo Duterte in 2022.

Nelson also noted Iloilo City as a place with a “lot of opportunities”, citing its solid performance when it comes to agribusiness, manufacturing and information, and communications technology.

Furthermore, Iloilo City was also able to make it to the Top 10 most competitive cities in the past few years based on the National Competitiveness Council.