MANILA – Singapore’s business community sees the Philippines as an ideal expansion destination, Singaporean Prime Minister Lawrence Wong said Wednesday.
Wong acknowledged that the Philippines has been able to create an environment that is ripe for business development, citing the country’s sustained growth momentum.
“Our close ties cover so many different areas, but on the business side, I’m glad to see the links growing year by year,” he told President Ferdinand R. Marcos Jr. during a bilateral meeting at Malacañan Palace in Manila.
“Singapore businesses are confident in the dynamism and the potential of the Philippines economy, and we are now one of the largest foreign investors in the Philippines. The investments have been growing over recent years, and we see potential to do even more,” he added.
Wong said Singapore intends to take its relations with the Philippines to “even greater heights,” stressing that “there is room for us to do much together.”
He also welcomed the presence of Philippine firms in Singapore.
“Philippine companies have also steadily grown their presence in Singapore. And we are keen to discuss how we can grow our collaboration in new and emerging areas, like the green economy and in sustainability,” Wong said.
Marcos said the Philippines is grateful to have Singapore as its partner in building a “future-ready, inclusive, and innovation-driven service.”
Wong is currently in Manila for a two-day official visit. (PNA)
Source: PNA
