UK Export Finance

Discover what the UK offers in finance to support major projects when buying UK Goods and services.

UK export finance

Clink on the link below to see a presentation of the UK Export Finance Scheme

> > UK export Finance – Competitive finance when you buy from the UK < <

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Calling All Philippines Marching Bands

We have been contacted by the organisers of the Liverpool Waves Music Festival who are keen to attract Marching Bands from all over the world to their festival in Liverpool.

Dates for the first festival will be from

July 4th – August 18th 2024

 There will be various performances throughout these dates.

Liverpool WaVeS Music and Marching Band Festival is not a competition but a showcase of some of the best youth and community groups from around the world, coming to assemble here in Liverpool in the United Kingdom, one of the most renowned cities in the world for music heritage.

We aim to have a mix of marching bands and drumlines / corps with their colour guards and cheerleaders, orchestras, non-marching bands including jazz, symphonic and show bands, vocal groups, choirs and not forgetting the dance groups throughout the summer, making this a truly multicultural visual music festival.

The festival organisers have been in talks for many months with high schools and community groups from many areas around the world including; Japan, USA, Canada, Thailand, Australia, Europe, South America and as far away as Tonga, with a good response from groups keen to come and perform here in Liverpool at the festival.

It is recognised that the cost for a band from the Philippines to visit the UK could be prohibitive and therefore sponsors may need to be identified to cover some or all of the costs. Interested bands and sponsors should contact John Perry at johnstevenperry@yahoo.co.uk.

Further information can be found at http://www.liverpoolwaves.com

 

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TINIG UK

I had the great pleasure this week meeting Liezel Longboan, the editor of the website Tinig UK – The voice of Filipinos in the UK (tinig-uk.com)

TINIG means VOICE in Tagalog and therefore it is the voice of Filipinos in the UK. It provides news and information to the Filipino community in the UK and organises events relevant to the community.  One such event coming up in the near future is:

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Philippines Economy Update January 2023

economic indicators
  • The Philippine Gross Domestic Product (GDP) posted growth of 7.6 per cent in the third quarter of 2022, exceeding the median analyst forecast of 6.3 per cent. This puts the Philippines firmly in second place in terms of highest growth in the region and on track to achieving the government’s growth target of 6.5 to 7.5 per cent in 2022.
  • The main drivers for growth in the third quarter were wholesale and retail trade, repair of motor vehicles and motorcycles, financial and insurance activities, and construction.
  • Major economic sectors posted positive growth in the third quarter, including agriculture, forestry and fishing at 2.2 per cent, industry at 7.7 per cent, and services at 9.1 per cent.  
  • Household consumption and investment helped drive growth on the demand side as more Filipinos returned to regular activities after the pandemic.
  • The relaxation of border restrictions and simplified travel protocols helped provide a boost to tourism and other related sectors. From February to November 2022, the Philippines recorded 2,219,634 tourist arrivals.
  • The unemployment rate declined and is now at 5 per cent, the lowest since January 2020. This equates to a decrease of 1.8 million unemployed individuals.
  • The Philippine government aims to reinvigorate job creation and reduce poverty rates to single-digit levels. Similar to many other countries in the world today, the Philippines is currently dealing with higher levels of inflation but the government is taking the necessary steps to address this.
  • President Ferdinand Marcos, Jr. has also identified food security as a top priority of his administration. The government will boost domestic agricultural production and sustain agricultural productivity and resilience through climate-adaptive technologies.
  • The Philippines remains committed to supporting businesses and creating a more enabling regulatory and investment environment through the full implementation of landmark reforms such as the amendments to the Public Service Act, Foreign Investments Act, Retail Trade Liberalization Act, and the Corporate Recovery and Tax Incentives for Enterprises or the CREATE law.

Source: Philippine Statistics Authority; National Economic and Development Authority

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Forum on The Philippines’ Role in your Global Business

Forum 23 03 2021

The Philippines is poised to recover strongly post-pandemic due to its strong economic fundamentals and responsive government interventions. With the capability and capacity to host critical activities and high growth industries through its highly skilled, resilient, innovative and adaptable workforce, foreign investors continue to show confidence in the Philippines evident with the country’s FDI experiencing an increase by almost a third in contrast with the decline in global FDIs in 2020.

The DTI-Board of Investments presents “Make It Happen in the Philippines: A Forum on the Philippines’ Role in Your Global Business.” Learn more about business opportunities in the country and our attractive business environment as economic experts discuss updates on the Philippine investment climate and investors share insights and experiences in growing their business in the Philippines. The Forum is on 23rd March 2021 at 09.00 GMT.

The Speakers
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Ramon Lopez Secretary Department of Trade and Industry 
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Ceferino Rodolfo Undersecretary Department of Trade and Industry 
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Rosemarie Edillon Undersecretary National Economic Development Authority 
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Jaime Augusto Zobel de Ayala Chairman & CEO
Ayala Corporation
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Elmar Lutter President & CEO Lufthansa Technik Philippines
Join us in our first virtual event of the year for Europe!
Register HERE
Together, we can Make it Happen! 

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British Business Delegation To The Philippines

The British Business Delegation To The Philippines will take place during 23 – 28 February 2020.

The PBBC are delighted to be working with the British Embassy, British Chamber of Commerce in Manila and the Makati Business Club, to offer U.K. companies this unique opportunity to do business or invest in the Philippines. Please put the dates in your diary and make contact early to secure your place on the Business Delegation.

Metro Manila

THIS EVENT IS MULTI-SECTOR AND OPEN FOR ALL

The British Business Delegation to the Philippines will include new and experienced exporters, investors, those looking to source from the market and those looking to outsource services to the Philippines. There is already strong, growing interest in tourism in the Philippines so anyone looking to increase tourism connections is also encouraged to apply. The delegation will be led by a senior and experienced PBBC Member from the UK with extensive experience of doing business in the Philippines.

Programme

The program for the delegation will include political, economic and sector briefings, business matchmaking events, site visits, business receptions and networking opportunities. One-to-one meetings can be added for a small additional fee. There will also be time for delegates to take the opportunity to explore the bustling city of Manila.

Travel & Hotel Package

The delegation will fly Philippine Air Lines (PAL) – the flag carrier of the Philippines (direct flight between London and Manila). The travel package cost will include flight, hotel accommodation for the duration of the visit and connections. 

The Philippines

The Philippines is one of the fastest growing global economies and has a rapidly expanding services industry. Economic growth has accelerated in recent years, averaging 6% GDP growth per year from 2011 to 2018 and is expected to expand at a solid pace through 2019/20 (Focus Economics). Now is the perfect time to explore the exciting business opportunities the Philippines has to offer.

More information

For more information and to sign up to the delegation please contact Melissa Dizon on 07741 654362 or by email at melissad@martellobc.co.uk www.facebook.com/britishbusinessdelegationphilippines2020

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Economic Performance Indicators – January 2019

ECONOMIC PERFORMANCE AND INDICATORS

Gross Domestic Product

• The Philippine economy remained one of the fastest growing in Asia, along with Vietnam and China. The PH Government is expecting a 6.5 percent GDP growth in 2018. The PH government will report on the 2018 GDP performance next week.

economic performance indicators
Inflation

• Inflation averaged 5.2 per cent last year, its quickest pace since the global financial crisis a decade ago.

Employment

• The annual employment rate in 2018 was estimated at 94.7 percent; annual unemployment rate was 5.3 percent.

• The total employed persons in the country in 2018 was approximately 41.2 million in 2018.

Budget (Revenues and Expenditure)

• In the first 11 months of 2018, the government’s budget balance swayed to a US $9.1 billion deficit, 96 percent higher than US $4.6 billion shortfall registered in the comparable period in 2017.

Foreign Direct Investment / Portfolio Investment

• FDI net inflows for the first ten months of 2018 reached US$8.5 billion, an increase of 1.8 percent from the US$8.4 billion net inflows in the comparable period in 2017. The government has projected overall FDI to hit $10.4 billion for the entire 2018.

Remittances

• Personal remittances from OFWs in January – November 2018 reached US$29.1 billion, 2.9 percent higher than the level posted a year ago.

• The bulk of cash remittances for the first eleven months of 2018 came from the US, Saudi Arabia, United Arab Emirates, Singapore, Japan, United Kingdom, Qatar, Canada, Germany, and Hong Kong. Cash remittances from these countries accounted for almost 79 percent of total cash remittances.

• Cash remittances from the UK to the Philippines increased by 9.2 per cent at US$1.3 billion from US$1.2 billion for the same period in 2017. UK remains the top source of overseas Filipino remittances in Europe, representing 35.6 % of the total remittances from the region.

Tourists

• International tourist arrivals in the first three quarters of 2018 reached 5.8 million travellers. Of these, 1.2 million are from South Korea and almost a million from China. On a national basis, South Korea provides 20 per cent of the tourists coming to the country.

• Arrivals of UK visitors have reached 163,000 visitors within the first three quarters of 2018 – this represents a 9.73 per cent increase from the same period in 2017.

• The UK visitors from the Philippines means the UK still ranks as the top visitor market for the Philippines in Europe.

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Oct 24

Peter Beckingham new UK Chairman

After nearly 18 years as UK Chairman of the PBBC, Nigel Rich has stepped down as Chairman and handed the reins over to Peter Beckingham as the new Chairman.

Peter Beckingham

Peter knows the Philippines well having been the British Ambassador in Manila from 2005 to 2009.

Further details about Peter can be found here.

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Sep 20

Economic performance and Indicators – September 2018

ECONOMIC PERFORMANCE AND INDICATORS – September 2018

Gross Domestic Product economic indicators

• The Philippine’s Gross Domestic Product (GDP) slows down by 6 percent in the second quarter of the year. GDP grew by 6.8 percent in the first quarter of the year.

• NEDA has attributed the slowdown to policy decisions which would promote sustainable and resilient development.

• The growth in the 2nd quarter of the year was mainly driven by Manufacturing, Trade, and construction.

Trade / Exports / Imports

• The Philippines’ total external trade in goods In July 2018 reached US$15.25 billion, indicating an increase of 17.5 percent from US$12.97 billion recorded during the same month in 2017.

• From January to July, total imports payments went up by 15.7 percent to US$61.234 billion in 2018 from US$52.923 billion in 2016, whereas, total export receipts shrank by 2.8 percent at US$38.744 billion in 2018 from US$39.869 billion in 2017.

• The country’s balance of trade in goods (BoT-G) yielded a US$22.49 billion deficit in January to July 2017, 72.3 percent bigger than the US$13.055 billion trade gap in same period of 2017.

Inflation

• The headline inflation rate at the national level further accelerated by 6.4 percent in August 2018. In the previous month, inflation was posted at 5.7 percent and in August 2017, 2.6 percent.

• The indices of the following commodity groups recorded higher annual increases during the month: Food and Non-Alcoholic Beverages (8.5%); Alcoholic Beverages and Tobacco (21.6%); Furnishing, Housing Equipment (3.5%); Health and Restaurant and Miscellaneous Goods and Services (4.0%); and Recreation and Culture (2.4).

Employment

• As of July 2018, the unemployment rate was estimated at 5.4 percent. The unemployment rate in July 2017 was 5.6 percent.

• Estimates showed that 94.6 percent of the labour force population were employed in July, a slight increase from 94.4 percent last year.

Budget (Revenues and Expenditure)

• From January to June, government revenue collections vis-à-vis spending narrowed fiscal deficit to US$3.5 Billion, due to improved collections thanks to the new tax reform law (TRAIN law).

• Revenue collections reached US$26 Billion in the first half of the year.

• Government disbursements reached US$29.6 Billion or 20 percent higher than the US$24.6 Billion in the same period in 2017.

Foreign Direct Investment / Portfolio Investment

• For the first semester of the year, Foreign direct investments (FDI) grew by 165 percent to US$14.5 billion from US$5.5 billion for the same period in 2017, reflecting continued confidence of investors in the Philippine economy.

• By country, Indonesia topped all foreign investors with US$118 million, followed by Japan with US$48 million and China with US$16 million worth of investments.

Foreign Exchange Reserves

• The country’s foreign exchange reserves buffer improved to US$77 billion in August, up 1.4 percent from July’s US$76 billion.

• As of end-August, the Bangko Sentral has foreign investments of US$61.68 billion, higher than the previous month’s US$60.74 billion. Gold reserves however fell to US$7.62 billion from US$7.78 billion in July.

Remittances

• Data from Bangko Sentral showed that money sent by OFWs recovered in July this year. OFW personal remittances grew by 4.5 percent in July to US$2.7 billion. On a cumulative basis, personal remittances grew by 3 percent year-on-year to US$18.5 billion.

• More than 79 percent of total cash remittances came from the US, Saudi Arabia, UAE, Singapore, Japan, UK, Qatar, Canada, Germany, and Hong Kong.

• There are currently 10 million overseas Filipinos worldwide.

• From January to July 2018, cash remittances from the UK to the Philippines increased by 9.9 percent at US$ 856,256,000 from US$ 799,049,000 for the same period in 2017. The UK remains the top source of overseas Filipino remittances in Europe, representing 35.36 % of the total remittances from the region.

Tourists

tourism

scene of beach in coron, philippines

• First semester tourist arrivals increased by 10.4 percent (or 3.7 million), compared to the 3.3 million arrivals recorded for the same period last year.

• Despite the closure of Boracay, tourism officials are confident that the year-end target of 7.5 million arrivals will be achieved.

• Arrivals from the UK have reached 89,782 within the first five months of this year. The UK still ranks as the 8th top visitor market for the Philippines.

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