During its annual media luncheon at Fashion Interiors on December 12, the British Chamber of Commerce Philippines (BCCP) celebrated its achievements from 2024, including the significant signing of the Anti-Agricultural Economic Sabotage Act and the Anti-Financial Accounts Scamming Act (AFASA). The event underscored the Chamber’s ongoing commitment to enhancing the business environment in the Philippines and outlined its priorities for the upcoming year.
The BCCP emphasized the swift passage of key legislation, including the Cybersecurity Act, E-Governance Act, and Konektadong Pinoy Act. These initiatives are designed to boost the country’s competitiveness and foster economic growth.
The Philippines continues to be a vital market for UK pork exports, ranking as the second largest after China, with exports totaling £26 million from January to September 2024. Additionally, UK beef exports reached £2.3 million during the same period. The Chamber remains dedicated to collaborating with the UK Agriculture and Horticulture Development Board (AHDB) to further enhance meat trade figures in 2025.
The Anti-Financial Account Scamming Act strengthens safeguards in the financial industry against cyberattacks while empowering the Bangko Sentral ng Pilipinas to support law enforcement agencies and financial institutions. This legislation complements the Cybersecurity Act, which aims to fortify the country’s cybersecurity infrastructure.
BCCP Executive Director/Trustee Chris Nelson highlighted that these developments pave the way for collaboration between the UK and the Philippines, particularly leveraging the UK’s advanced cybersecurity expertise. The passage of the E-Governance Act aligns with ongoing initiatives to improve business operations and reduce red tape, with the British Chamber officially recognized as an ARTA Champion. Furthermore, the Open Access in Data Transmission Act seeks to enhance internet infrastructure and promote a competitive telecommunications sector, encouraging foreign investments while leveraging the Public Service Act (PSA), which allows up to 100% foreign ownership in telecommunications services.
Looking ahead to 2025, Nelson expressed optimism: “The British Chamber will remain at the forefront of supporting key legislation to continue opening up the economy while promoting multiple areas of cooperation. This aligns with our goal in further increasing UK-PH trade and driving overall competitiveness in Southeast Asia.”
As BCCP sets its sights on new opportunities in 2025, it remains committed to fostering a robust partnership between the UK and Philippine markets, ensuring mutual growth and development.