POLITICAL developments in the Senate could affect the pace of economic reforms and legislation needed to sustain investor confidence in the Philippines, according to Executive Vice Chairman Chris Nelson of the British Chamber of Commerce of the Philippines (BCCP).
Nelson said ongoing political tensions and impeachment proceedings come at a challenging period for the Philippine economy amid inflationary pressures, slowing growth, and geopolitical uncertainties linked to the Middle East conflict.
“We need to get our act together; we need to get this cleared out,” he said in a recent interview. “As a business chamber, we’re constantly pushing to see legislation passed, which we think will drive up business and open up the economy.”
Nelson said the chamber remains concerned that political developments could delay the passage of priority economic legislation. Among the measures it highlighted were the Cybersecurity Act, the Digital Payments Act, and the Blue Economy Act.
BCCP noted that the Philippines’ digital economy continued to expand significantly, accounting for 9.8 percent of gross domestic product in 2025, which is equivalent to around P2.73 trillion in gross value added and supporting over 10.39 million jobs nationwide.
Nelson said measures strengthening cybersecurity and digital payments infrastructure would be crucial, as the Philippines positions itself as a growing digital and fintech hub in Southeast Asia.
BCCP also noted recent regional developments that reinforce the importance of legislative support for broader economic and strategic initiatives—including the proposal at the Asean Summit for the establishment of a maritime center in the Philippines, alongside continued calls for a legally binding South China Sea Code of Conduct and enhanced maritime cooperation among the region’s member states.
The chamber also welcomed ongoing reforms under the Anti-Red Tape Authority (ARTA), as it cited the Philippines’ improving standing in the World Bank’s Business Ready (B-READY) rankings.
The country ranked 53rd out of 101 economies in the 2025 B-READY report. ARTA is confident that the country could enter the top 20 percent globally by 2028 through further streamlining of registration and licensing processes.
“[BCCP is] an ARTA champion. We work very closely with [Director General] Ernesto Perez,” Nelson said. “What we see is further red tape cut. That’s why it’s improving in those rankings.”
PHL as ASEAN Chair
THE chamber’s executive director also stressed that United Kingdom companies continue to view the Philippines as a strategic gateway to Southeast Asia, particularly as the country chairs the Asean this year.
“We also know that the Philippines wants to join [the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or] CPTPP, which the UK is already a member of. And we hope that the application will progress quickly and smoothly,” Nelson said. “Finally, of course, let’s not forget, the Philippines is now the chair of Asean. This is a great opportunity.”
During a recent courtesy visit to Ambassador Teodoro L. Locsin Jr. in London, Nelson said discussions focused on food security, regional resilience and expanding bilateral trade cooperation amid global supply chain disruptions and energy concerns. At the 48th Asean Summit, President Ferdinand R. Marcos Jr. identified food and energy security among the key priorities of the Philippines’ chairship.
The BCCP official also welcomed the strengthening of the Joint Economic and Trade Committee or JETCO between the UK and the Philippines, noting that similar frameworks have already been established with other ASEAN economies.
As total two-way trade in goods and services reached £3.2 billion by the fourth quarter of 2025, Nelson said that “the UK sees the Philippines as a very strategic partner. [But the more important things to ask:] Is legislation improving? Are we opening up the economy? And what are the opportunities?”
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