MANILA - The Department of Trade and Industry again called on British firms to invest in the Philippines and link up with startups in the country especially in key sectors such as aerospace, automotive, electronics, and pharmaceuticals.
During the 2nd Philippines-United Kingdom Economic Dialogue held on Wednesday, the DTI said it was “very keen to pursue innovation and industrial development cooperation with the UK.”
“We have innovative British companies operating in the Philippines and this cooperation will help complement their operations here by linking them with our innovative MSMEs and big businesses,” said DTI Undersecretary Ceferino Rodolfo.
The event was also attended by UK Ambassador to the Philippines Daniel Pruce, who countersigned a memorandum of understanding with the Intellectual Property Office of the Philippines, which aims to further boost the Philippines’ IP regime.
DTI said the Philippines has been leveraging its strong IP regime to attract investments in strategic industries.
“Hopefully, these MSMEs would also be able to link with their British counterparts through the innovation and industrial collaboration that DTI is proposing,” Rodolfo added.
The United Kingdom is the Philippines’ 18th largest trading partner and export market.