MANILA, Philippines – The Philippines has become a more attractive location for investments for British firms amid improving economic conditions here, but the government needs to address bottlenecks to growth such as lack of infrastructure, predictability in business environment and skills gap to get more investors.

London Mayor Alan Yarrow told reporters yesterday the Philippines’ economic gains in the last four years has made it a more attractive place for business and investments.

“You’ve been particularly successful in the last four years. You’ve been the choice of a number of companies to outsource back office, very good level of education, good command of English. Consequently, the world is coming to the Philippines. You can see it in GDP (gross domestic product) numbers and that is important,” he said.

Despite the improvements made, Yarrow said there are bottlenecks which need to be addressed for the country to continue to grow and attract more investments.

Among the bottlenecks to growth is the lack of necessary infrastructure.

In that area, Yarrow said the United Kingdom (UK) could provide assistance to the Philippines in terms of financing and technical assistance.

 

Source: http://www.philstar.com

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