British Chamber pays courtesy visit to Department of Finance

MANILA, Philippine — The British Chamber of Commerce Philippines (BCCP) paid a visit to the Philippine Department of Finance to discuss key priority areas on digital transformation, cybersecurity, food inflation and promoting trade and investments. The outlook on bilateral relations between the UK and the Philippines remains positive, with the recently held inaugural Joint Economic and Trade Committee (JETCO) and investment opportunities present in multiple sectors, particularly in renewable energy, manufacturing and infrastructure. 

As represented by the Department of Finance Secretary Ralph Recto and BCCP Executive Chairman Chris Nelson, the discussion began by the growing number of British business communities in the country that can be further driven by the recently signed legislation such as the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act. 

As noted when he signed the IRR, Secretary Recto mentioned that, “On the part of the government, we are committed to making CREATE MORE not just a tool to attract more investments — but a magnet to keep them here, grow them here, and give every reason for investors to place their trust in the Philippines. Again and again.”

Nelson also raised BCCP's support to the digital transformation agenda of the Philippines that could assist in further boosting investor confidence, by urging the passage of the three priority legislation, namely, the Konektadong Pinoy Act, E-Governance Act and the Cybersecurity Act.

“The thrust is that the trade between the UK and the Philippines is growing, but we want to see it grow even more. And therefore, passing key acts such as the Konektadong Pinoy Act, E-Governance Act and the Cybersecurity Act, we think, will foster and improve the ability to do business here,” Nelson said. 

Similarly, Nelson also recognized the agency’s support in implementing the Anti-Agricultural Economic Sabotage Act to ensure food security in the country, manage inflation, and protect legitimate importers. In a previous statement, the finance chief noted that, “Through a stronger and stricter crack down on these offenders, we protect our people’s access to affordable goods and boost our revenue collections, which will allow the government to provide more essential public services to Filipinos.”

Taking advantage of these significant developments, Secretary Recto also welcomed the upcoming UK investment mission on 25th-27th June 2025 hosted by the Philippine Economic Zone Authority (PEZA). The mission aims to invite major British economic players and investors to invest in the economic zones and across various sectors including manufacturing, business process outsourcing, hotels and restaurants, and software development among many others.

The BCCP extended its gratitude to the Department of Finance and recognized its efforts in establishing competitive fiscal policies that continue to attract British investors and facilitate Philippine economic growth. It also remains committed to working closely with the Department of Finance and other relevant government agencies to further promote the Philippines as a prime investment destination in the region.