By Ma. Teresa Montemayor
MANILA – President Ferdinand R. Marcos Jr. said Monday that his working visit to Singapore opened investment opportunities in logistics, renewable energy and technology while strengthening bilateral economic ties and cooperation on regional priorities.
In his arrival statement, Marcos cited his discussions with Singapore Prime Minister Lawrence Wong and executives of FedEx, Mitsubishi Corporation and Vena Energy, as well as his participation in the 24th Forbes Global CEO Conference.
“I am pleased with my discussions with Prime Minister Lawrence Wong, particularly on our shared interest in ensuring continuity and sustaining momentum in ASEAN priorities,” he said.
Marcos said the engagements were timely as the Philippines prepares to hand over the Association of Southeast Asian Nations (ASEAN) chairship to Singapore next month, following the 49th ASEAN Summit and Related Summits in Manila in November.
At the Forbes conference, Marcos presented the country’s economic priorities to about 470 business leaders, chief executive officers and policymakers.
He highlighted efforts to expand exports, improve the business climate through tax incentives and digital reforms, and attract investments, including in the USD20-billion Luzon Economic Corridor.
He also cited the country’s push for research and development, regional digital cooperation and technological advancement, backed by a young, skilled, English-speaking and technology-savvy workforce.
Marcos reaffirmed his administration’s commitment to fighting corruption, strengthening digital safeguards, expanding international economic partnerships and protecting the country’s sovereignty, sovereign rights and jurisdiction in the West Philippine Sea.
*Major investments*
During the visit, Marcos met with executives of FedEx, Mitsubishi Corporation and Vena Energy to discuss existing and planned investments in the Philippines.
He said FedEx’s expanded Clark Gateway Hub in Pampanga is scheduled to open in the fourth quarter of 2028. The expansion is expected to boost international air freight and specialized cargo capacity, helping more micro, small and medium enterprises access global markets.
Marcos also cited Mitsubishi Corporation’s USD700-million investment in Ayala Corp., which is expected to rank among the country’s largest foreign equity investments in recent years.
Vena Energy, meanwhile, plans to develop an additional 1.29 gigawatts of renewable energy capacity, supported by a PHP52-billion equity infusion over the next two years.
The planned expansion will add to the company’s existing 887-megawatt operational capacity and about 1.26 gigawatts of projects under construction.
Marcos said the investments would support the government’s target of increasing renewable energy’s share in power generation to 35 percent by 2030 and 50 percent by 2040.
“I am confident that the interest shown by investors in these engagements will bring more high-value investments, partnerships, technology and jobs to the Philippines, particularly in sectors that will support our long-term growth and transformation,” he said.
*Long-term energy security*
Marcos also visited the Singapore Nuclear Research and Safety Institute to learn about Singapore’s work in nuclear research, technology and safety.
He said the Philippines would continue to study options for long-term energy security and develop the technical expertise needed to make informed decisions on future energy sources.
“Our objective is not simply to attract investments today. We must also prepare the energy supply, the infrastructure, technology and human capital necessary to sustain the industries of tomorrow,” he said.
Marcos described Singapore as a key economic partner and expressed confidence that ties between the two countries would remain strong.
He thanked the Singaporean government and people for their hospitality, saying the visit strengthened bilateral cooperation and opened further opportunities for investment and economic development.
