The United Kingdom has emerged as the leading investor in the Philippines for January 2025, reinforcing the growing investment ties between the two nations, it was learned recently.
The British Chamber of Commerce Philippines (BCCP) met with key officials from the Philippine Economic Zone Authority (PEZA) last week to discuss the upcoming June 2025 UK trade mission and expanding opportunities for British businesses within the country’s economic zones.
The trade mission will provide an opportunity to showcase the investment potential of the Philippines and attract even more British businesses to its shores, according to a BCCP news release.
The courtesy visit saw BCCP Executive Chairman Chris Nelson engaging with PEZA Director General Tereso O. Panga and other senior officials, including OIC Deputy Director General for Policy and Planning Anidelle Joy M. Alguso, Deputy Director General for Finance and Administration Maria Veronica F. Magsino, and Deputy Director General for Operations Vivian Santos.
The dialogue highlighted the robust performance of PEZA, which during its first Board Meeting of 2025 reported over ₱30 billion in investments—a remarkable 1,263% increase from the same period last year.
In the same news release, the BCCP cited PEZA and said the Philippines now hosts a total of 89 registered business enterprises with cumulative investments worth ₱34.036 billion from 1995 to 2024.
In addition, exports from these businesses reached $1.707 billion in 2024, generating 72,391 jobs over the same period.
BCCP said the growing success of PEZA’s economic zones has drawn significant interest from the UK, with a focus on industries such as hotels and restaurants, transport equipment, apparel, software development, renting of machinery and equipment, rubber and plastic products, and electricity, gas, steam, and hot water supply.
Both BCCP and PEZA leaders noted the importance of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act.
Director General Panga noted that the law has gained significant attention from British businesses, particularly for its more competitive tax incentives and revised value-added tax rules, which could enhance investment opportunities.
The BCCP has voiced strong support for the establishment of the Joint Economic and Trade Committee (JETCO) in the Philippines. The committee, along with the Philippines’ interest in joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)—a move supported by the UK’s recent accession—further strengthens the bilateral trade relations between the two countries.
The upcoming trade mission and continued collaboration between the UK and the Philippines are expected to drive further growth in bilateral investments, creating more opportunities for British companies and contributing to the Philippines’ economic development.
