Despite the billion-peso flood control corruption scandal shaking public confidence in government and its infrastructure projects, the British Chamber of Commerce Philippines (BCCP) remains upbeat about the country’s economic prospects and its growing trade ties with the United Kingdom.
In an interview, BCCP Executive Vice Chair Chris Nelson said that while corruption in infrastructure remains a serious issue, it has not yet dampened investor confidence.
“No, we’ve not seen investors putting plans on hold yet,” he said. “Obviously, the flood control corruption scandal is developing rapidly, but our investors are still looking at opportunities — how to ease doing business, how to open up the economy.”
He underscored, however, that the passage of key reforms will be vital to sustaining investor confidence and ensuring transparency in governance.
Nelson also pushed for the passage of the Cybersecurity Act, which has been identified by the Legislative-Executive Development Advisory Council (LEDAC) as a priority measure under the 20th Congress.
The BCCP official said that strengthening cybersecurity infrastructure would further enhance investor confidence and create new opportunities for collaboration with UK firms that specialize in digital security.
He said a stronger cybersecurity framework will help ensure the safety of investments and promote trust in digital transformation initiatives.
Nelson said British investors continue to see the Philippines as an attractive destination for trade and investment, especially as the UK economy strengthens in the Asia-Pacific region.
“I would just like to make the point that the UK economy grew in the first quarter by 0.7%. Actually, that makes it the fastest for that quarter in the G7,” he said.
“The question is how to sustain that growth and what are the opportunities in other areas. I have been in discussions with Martin Kent, the UK Trade Commissioner for Asia-Pacific. He mentioned that UK trade growth in the APAC area is growing strongly,” he added.
According to the Commons Library Research Briefing, Asia now accounts for 11% of the UK’s total investment stock abroad, ranking as the fourth top region for UK investments as of January 2025.
Nelson noted that this sustained interest will translate into more investment opportunities in the Philippines, leveraging trade mechanisms such as the Developing Countries Trading Scheme (DCTS) and the UK Joint Economic and Trade Committee (JETCO).
Trade between the two nations reached £3.0 billion in the four quarters ending Q1 2025, a 6% increase from the same period in 2024.
Nelson said he expects this figure to grow further, especially with the Philippines expressing interest in joining the Trans-Pacific trading group and as UK Ambassador-designate Sarah Hulton begins her tour of duty in Manila.
“I think UK outward investments will pick up. I just want to reiterate that the current government’s focus is on growth, on trade and investment, and that has been reinforced… I do think the Philippines is getting a lot of focus but we need to keep that up. Cybersecurity is a major concern. The UK has a lot of strength and there is a lot of support in this area, and they will be looking at those opportunities,” he added.
Nelson said the UK is pursuing a Modern Industrial Strategy that targets eight priority sectors: advanced manufacturing, clean energy industries, creative industries, defense, digital and technologies, financial services, life sciences, and professional and business services.
Many of these sectors, he noted, align with Philippine development priorities, opening new channels for cooperation and knowledge sharing.