UK ready to assist Philippine startups
MANILA, PHILIPPINES — The United Kingdom has pledged to support Philippine startups and tech companies. The statement comes as the UK announces a new partnership that would promote common UK-Philippines priorities, including fintech, cyber security, digital health services, and smart cities.
“We know how many great tech companies there are in the Philippines and we have a lot of British companies who are very interested to spend more time here,” UK Trade Commissioner for Asia Pacific Natalie Black told Philstar.com.
In a factsheet published in March, the UK says that its partnership with the Philippines saw a significant increase in their total trade in goods and services, including exports and imports, with a recorded jump of 35.5% or £610 million (US$758.4 million) from the four quarters to the end of Q3 2021. The total trade value between the two countries currently stands at £2.3 billion (US$2.9 billion) in current prices.
Recently, the Department of Trade and Industry said that the Philippines has the potential to become a startup destination, noting that the sector’s ecosystem has been expanding with a 20 percent growth in terms of deal count.
