philippines

Why Philippines?

The Philippines, with over 98 million people, is one of the largest markets in South East Asia and the 12th largest country in the world in terms of population. 

The Philippines is an emerging economy with an expanding consumer base, driven by overseas remittances (US$18.8 bn in 2010) and, in 2010, the highest GDP growth in 35 years. 

The Philippines has a skilled workforce and competitive wages. It is one of the largest English speaking countries, which heightens the ease of doing business. 

The Philippines has a liberalised economy and a highly Westernised culture, making the market receptive to British products and services.  

The Philippines’ strategic location makes it a potential gateway for investors to the Asian market (within around 4 hours flying time to any capital in Asia).

The UK has good trade relations with the Philippines. Total exports of goods to the Philippines for 2010 was £286m, a year-on-year increase of 11%. 2010 imports amounted to £485m, a rise of 32% from the year before.  Cumulatively, the UK has also been the largest investor in the Philippines for the past decade. Combined net foreign direct and net portfolio investments from 1999-2009 amount to US$9.3 billion.
 

KEY SECTORS OF OPPORTUNITY

Agriculture - genetics and biotechnology, aquaculture, quality assurance

Aid-funded business/Asian Development Bank (ADB) - ADB is headquartered in Manila; opportunities for regional projects in sectors such as agricultural and natural resources, education, energy, construction, environment & climate change, finance, health, governance, transport, water and other municipal infrastructure.

Construction - building products and services, architecture and engineering, green-building

Education - Accreditation, vocational and continuing education, e-learning modules, software and hardware, partnerships with local educational institutions. Environment - solid waste management, waste-to-energy, water and waste water treatment

Financial and Professional Services - Banking products and services, technology platforms for finance organisations, training providers ICT - contact centres, back-office solutions, animation & gaming, software development. The Philippines has been awarded the UK’s National Outsourcing Association (NOA) as the world’s best Outsourcing Destination in 2007 and 2009.

Healthcare - medical equipment and supplies, health and wellness facilities, e-health solutions.

Power and renewable energy (RE) - privatisation of government power assets, RE projects, energy efficiency, carbon finance and CDM

Public Private Partnerships (PPP) - major infrastructure sectors for PPP projects as identified by the Philippine government (worth ca US $15 Bn) are: agriculture, airports, education, health, power, rail, roads and ports. The government set up a PPP Centre in 2010, to oversee roll-out of projects. UKTI Manila organised two PPP – related trade missions in 2011.

Retail - fashion, accessories, wellness products and food concepts

Tourism – mid-range hotels, entertainment and leisure centres, recreation facilities, hospitality and management training, and other general supply chain opportunities. Visitors to the Philippines continue to increase yearly.