Marcos wraps up Singapore trip, secures stronger economic ties

MANILA, July 17 ------ President Ferdinand R. Marcos Jr concluded his three-day working visit to Singapore, saying the trip reinforced the Philippines' strategic partnership with the city-state while boosting investor confidence in the country's digital economy, infrastructure, healthcare and innovation sectors.

In a post-visit statement upon his return to Manila, Marcos described the July 14 to 16 visit as “most productive,” highlighting his meeting with Singapore Prime Minister Lawrence Wong, engagements with business executives, and participation in the Milken Institute Roundtable Discussion. “During this visit, I met with His Excellency Lawrence Wong, the Prime Minister and Minister for Finance of Singapore. I held meetings with business and investment executives, and attended the Milken Institute’s Roundtable Discussion with regional business leaders,” Marcos said.

The President said he and Wong reaffirmed the strength of Philippines-Singapore relations despite global economic uncertainties and geopolitical tensions. “During my courtesy call on Prime Minister Lawrence Wong, we affirmed the strength of our bilateral relations amidst global shocks and conflicts.”

The two leaders discussed expanding cooperation in trade and investment, artificial intelligence (AI), education, healthcare, environmental protection and people-to-people exchanges. With the Philippines chairing the Association of Southeast Asian Nations (ASEAN) this year and Singapore set to assume the chairship in 2027, Marcos said both countries underscored their commitment to a stronger and more united regional bloc. “With the Philippines and Singapore holding successive ASEAN Chairships, we underscored our shared commitment to a stronger, unified ASEAN,” he said.

Marcos also met with Singaporean companies and investors, where he promoted the Philippines as an investment destination backed by a growing digital economy, skilled workforce and continuing economic reforms. He said discussions centered on digital technology, telecommunications, data centers, AI and healthcare, sectors seen as key to sustaining long-term economic growth.

Among the companies he met were Singtel Group and ABC Impact.

According to Marcos, Singtel reaffirmed its long-term commitment to expand NCS Philippines and further develop ST Telemedia Global Data Centres in the country, while ABC Impact committed to support the nationwide expansion of AC Health, which is expected to improve access to healthcare services and generate thousands of jobs. “These business engagements... reaffirm Singaporean investors’ strong confidence in the Philippine economy and the support that they will give to our country’s vision of becoming a competitive, innovation-driven, and future-ready investment destination,” he said.

During the Milken Institute roundtable, Marcos also pitched the country's investment opportunities, highlighting the Luzon Economic Corridor, the Public-Private Partnership Code, and the Green Lanes for Strategic Investments as reforms designed to accelerate project approvals and attract more high-value investments. “As a newly designated upper middle-income country with solid macroeconomic fundamentals, the Philippines offers a secure, transparent, and stable environment for businesses to thrive,” he said.

Marcos said the visit reaffirmed the enduring partnership between the Philippines and Singapore, as well as both countries' shared commitment to ASEAN centrality and regional growth. He also thanked the Singaporean government and people for their hospitality and said he looks forward to meeting Wong again during the 49th ASEAN Summit and Related Summits later this year.

Source: pna.gov.ph