British Chamber eyes growing cybersecurity opportunities in Phl, pushes for Cybersecurity Act

The British Chamber of Commerce Philippines (BCCP) is increasingly optimistic about the growing opportunities for UK cybersecurity companies in the Philippines, underscoring the potential for more investment in this sector. Citing the UK's expertise in cybersecurity, the Chamber continues to advocate for the passage of the Cybersecurity Act and other measures aimed at improving the country’s connectivity and cybersecurity infrastructure.

At its event titled “Forecasting 2025: UK-PH Economic Perspectives”, the Chamber was joined by key figures in the Philippine government and the private sector, including Department of Trade and Industry Secretary Ma. Cristina Roque, Undersecretary Atty. Allan Gepty, Department of Budget and Management Undersecretary Joselito R. Basilio, His Majesty’s Ambassador to the Republic of the Philippines and the Republic of Palau Laure Beaufils, Philippine National Bank Economist and Research Division Head, First Vice President Alvin Arogo, and Asian Consulting Group (ACG) Founder and CEO Mon Abrea.

Cybersecurity growth and investment and support for the Cybersecurity Act

During the panel discussion, Ambassador Laure Beaufils highlighted the ongoing collaboration between the UK and the Philippine government, encouraging more UK cybersecurity firms to establish a presence in the country. Notably, companies like CyberQ Group and NCC Group, both British Chamber members, are already operating in the Philippines.

“We are seeing more and more British cybersecurity companies setting up shop here,” Beaufils said. “It is an area that, in terms of our bilateral relationship, quite frankly, did not exist a few years ago and is growing incredibly fast and will continue to do so.” The UK is also working closely with the Department of Information and Communications Technology (DICT) to develop strategies to address the nation's cybersecurity challenges.

The British Chamber has long been an advocate for the passage of the Cybersecurity Act, emphasizing its role in strengthening the country’s cybersecurity infrastructure. By doing so, the Chamber believes the Philippines will enhance investor confidence and attract more foreign businesses. This push is also in line with the recently signed Anti-Financial Account Scamming Act (AFASA), which mandates additional safeguards within the financial services sector to combat financial cybercrimes.

In October 2024, DICT Undersecretary Jeffrey Dy expressed optimism regarding the passage of the Cybersecurity Bill, noting that it may be approved within the current or the next 20th Congress.

Digital transformation as a national priority

Undersecretary Basilio presented key priorities in the FY 2025 National Budget, which amounts to Php 6.326 trillion, with Php 68.9 billion allocated for digital transformation. He also highlighted that over the medium term, the government plans to build 186 infrastructure flagship projects designed to drive high-tech needs and substantial economic returns. This includes projects spanning physical and digital connectivity, renewable energy, and transportation.

“The government is committed to steering the economy towards high growth, and these initiatives will have a significant impact,” Basilio said.

Supporting e-governance and open access in data transmission

The British Chamber continues to advocate for the E-Governance Act and the Open Access in Data Transmission Act, both of which are considered second priority under the Legislative-Executive Development Advisory Council (LEDAC). These bills are expected to enhance digital connectivity, improve the ease of doing business, and promote transparency, ultimately encouraging more UK companies to invest in the Philippines.

BCCP Executive Director/Trustee emphasized, “The Cybersecurity Act, along with other measures such as the E-Governance and Open Access in Data Transmission Act, will further enhance the country’s initiatives in digitalization, connectivity, and transparency, which will be crucial in attracting more UK investment.”

As the Philippines accelerates its digital transformation and addresses its cybersecurity needs, the British Chamber remains optimistic about the continued collaboration between the UK and the Philippines. The passage of essential cybersecurity and e-governance laws is key to fostering a secure, transparent, and dynamic business environment that benefits both local and international investors.