By THEPHILBIZNEWS STAFF
The British Chamber of Commerce Philippines (BCCP), in partnership with AppleOne Group, HSBC, SGV & Co., Pru Life UK, and Shang Properties, held its 2025 Midyear Economic Briefing, “Powering Growth Through Policy, Partnership, and Innovation,” on July 31. The Philippine Business and News served as a media partner.
The forum highlighted the positive outlook for UK-Philippine trade, driven by key trade agreements and a shared commitment to accelerating green growth and clean energy transition.
DTI: Trade Ties with UK Stronger Than Ever
Department of Trade and Industry (DTI) Undersecretary for International Trade Group, Hon. Atty. Allan Gepty, reported that UK net foreign direct investment (FDI) in the Philippines reached US$764 million in 2024, the highest on record. Currently, 97 British-registered enterprises operate in the country’s economic zones, spanning BPO, aerospace, renewable energy, and advanced textiles.
“Solar investments alone are worth US$612.5 million, including Actis’s USD 600M Terra Solar project and Citicore’s EUR 9.8M Batangas plant,” Gepty said. He also underscored the importance of platforms like BCCP in fostering collaboration between government negotiators and industry leaders.
He further noted the impact of trade frameworks such as the Joint Economic and Trade Committee (JETCO), the Developing Countries Trading Scheme (DCTS), and the Philippines’ interest in joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
UK: Supporting the Philippines’ Green Transition
British Embassy Manila Deputy Head of Mission, Mr. Mike Welch, CDA, A.I., emphasized the UK’s expertise and ongoing support for the Philippine Energy Plan and its clean energy shift.
“Our shared goal is to align with international best practices, optimize current structures, and build a strong pipeline across offshore wind projects,” Welch said.
He also highlighted UK Export Finance’s (UKEF) £5 billion coverage for sustainable and climate-resilient infrastructure projects in the Philippines. BCCP Executive Vice Chair Chris Nelson added that infrastructure and clean energy remain key priorities, noting the UK’s willingness to work collaboratively with other global investors to ensure the successful implementation of projects.
