The British Chamber of Commerce of the Philippines (BCCP) will be “sector-focused” this year in terms of marketing the Philippines to British firms, mostly in the power sector.
Compared with last year’s marketing strategy that covered various sectors, the chamber is now focusing on the Philippines power sector, BCCP Chairman Chris Nelson said.
He said more British firms are interested in bringing other sources of renewable energy into the Philippines.
“This year, we’ll be sector focused… We’ll be working together with the UKTI [UK Trade and Industry] to jointly commission in June a trade mission focusing on power and renewable energy,” Nelson said.
“Because if you look at many of the projects that are being commissioned in general, a lot of them are on power. There’s obviously a lot of discussion about power needs, and about the growth rates.
“And similar to that, there is a focus in the drive of renewable energy – wind, solar… There is a continuing need for power. The country itself said that there is a focus on renewables Therefore it seems logical for us to highlight that and to get British companies interested,” he added.
A lot of British investors are asking about which power companies they can invest in, Rona Diaz, BCCP project manager, said.
“Why energy? It is based on the number of British companies inquiring, which are mostly coming from that sector. And with the undissipated shortage in power in the coming years, they see that there’s really a potential in that sector for them to invest into,” Diaz said.
The BCCP has attracted about 700 British firms wanting to do business or distribute their products in the Philippines. Most of the firms are from sectors such as food and beverage, pharmaceutical and skin care, ICT or software, plastic, event management, seismic, gaming, security, infrastructure, recruitment and business consultancy.
Diaz said out of the 20 British firms the BCCP have assisted in coming into the Philippines, four have been successful. All of the firm are focused on selling their products and have found their local partner to distribute their goods.
She said the four firms include three pharmaceutical companies – Rosemont Pharmaceuticals Ltd., Allied Pharmacies UK Ltd. The two other companies Diaz declined to name.
Compared with last year’s November trade mission with 11 delegates, Nelson said they are looking at bringing in “the same or more” delegations this year for joint trade mission with the UKTI.
He said the thrust is to bring in more British investors in the Philippine power sector.
“We see great opportunities in 2016… The interest level here is high. I think the key for British companies is that they see the opportunities, they see others take that opportunity.
And the economy is continuously growing and there is a continuing need for that kind of support,” Nelson said.