THE British Chamber of Commerce of the Philippines (BCCP) said that they had identified what they wish for the Marcos administration for 2024.

They aim to lure more foreign investments, particularly those from the United Kingdom (UK).

Likewise under the wish list, BCCP executive director Chris Nelson said that the business group had already asked President Ferdinand R. Marcos Jr. to extend Executive Order 10.

This reduces tariff rates on corn, pork and rice imports, at least for another year.

Likewise, they said that EO 10 greatly helped UK meat exporters, increase their shipment to the Philippines, as the country is the UK’s second largest export market for pork next to China.

The policy is set to expire on Dec. 31, 2023.

According to Nelson, the Philippine government had already made changes to the Retail Trade Liberalization Act, Foreign Investments Act and the Public Service Act.

He said that the country could benefit by opening its economy and remove the foreign investment restrictions to lure more foreign investors into the country.

“Of course, the Philippines is not operating in isolation. You are competing with other countries in Southeast Asia and across the globe,” he said.