Finance Secretary Ralph Recto is wooing British investors to consider the Philippines as a prime destination for business growth and expansion.
Among the top-tier British companies engaged by the delegation were Actis, BP Plc, Global Infrastructure Partners, InvestCorp, Alexander Mann Solutions and Revolut. The Philippine delegation also met with the British International Investment and the UK ASEAN Business Council.
“We are very confident that our meetings left British investors with no doubt about the predictability, stability, profitability, and sustainability of doing business in the Philippines,” said Recto, who led the Philippine delegation.
“And I trust that our dialogues here will open the floodgates of more opportunities for mutually beneficial partnerships—ventures that will not only help them make more money but also enable the Philippines to reduce poverty to single digits and secure a brighter future for every Filipino,” he said.
Actis is a global investment firm focused on the private equity, energy, infrastructure and real estate asset classes. In September 2024, it invested $600 million for a 40-percent stake in Meralco’s Solar Philippines New Energy Corp. to build Terra Solar, which is set to become the world’s largest integrated renewable energy and storage project. I
It is thus far the largest foreign direct investment in a greenfield infrastructure project in the Philippines.
BP Plc is a global energy giant operating in over 70 countries. It has a foothold in the Philippines through Castrol, which markets and distributes high-performance automotive lubricants.
Meanwhile, Global Infrastructure Partners is an infrastructure investment fund focused on the energy, transport and water sectors. It has about $170 billion in assets under management, comprising 300 active investments in over 100 countries.
Investcorp is a leading global manager of alternative investment products for private and institutional clients. Their six asset classes include private equity, real estate, absolute return investments, infrastructure, credit management, and strategic capital.
Alexander Mann Solutions is a top global provider of talent acquisition services, including recruitment process outsourcing, total talent acquisition, managed services programs, and consulting services. Its Philippine operations are its second-largest offshore delivery center after Poland.
Revolut is the largest fintech company in the UK. Currently, it is a full-fledged digital bank in Europe. It also operates across key markets in Asia, including Japan, Australia, Singapore, and New Zealand.
The British International Investment is the UK’s Development Finance Institution with nearly 75 years of experience supporting emerging markets. Focused on building productive and sustainable businesses, it invests long-term, flexible capital to drive private sector growth and innovation in regions like South Asia, the Indo-Pacific, and Africa.
The UK-ASEAN Business Council is an independent partner of the UK and ASEAN governments. It links the UK public and private sectors to their counterparts in ASEAN to facilitate dialogue and grow two-way trade and investment.
The meetings were held on Oct. 29 to 30, 2024, on the sidelines of the Philippine Economic Briefing in London.
