Arrival Statement by President Ferdinand R. Marcos Jr. Following His Working Visit to Singapore
Mga kababayan,
I have just concluded another working visit to Singapore where I participated in the 24th Forbes Global CEO Conference and engaged with government and business leaders from Singapore and around the world.
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.
As our term as ASEAN Chair draws to a close and we prepare to hand over to Singapore next month, these back-to-back engagements could not be more timely.
I look forward to meeting the Prime Minister again at the 49th ASEAN Summit and Related Summits in Manila this November.
At the Forbes Global CEO Conference, I presented the Philippines economic priorities and our vision for growth amid rapid changes in technology, trade, and the global economy.
Before some 470 business leaders, CEOs, and policymakers, I shared how we are growing our exports and making it easier to do business through tax incentives, digital reforms and major investments such as the US$20-billion Luzon Economic Corridor.
I spoke of our drive to move up the technology ladder into research and development and to lead in regional digital cooperation, supported by a young, highly skilled, English-speaking and tech-savvy workforce.
I also emphasized our national resolve to fight corruption, strengthen digital safeguards, build strong international economic ties, firmly protect our sovereignty, sovereign rights and jurisdiction in the West Philippine Sea, and contribute to regional peace and stability.
I also met with business leaders including officials from FedEx, Mitsubishi Corporation and Vena Energy.
The meeting with FedEx highlighted the expansion of FedEx as Clark Gateway Hub in Pampanga, which is set to open in the fourth quarter of 2028.
The expanded hub will significantly increase capacity for international air freight and specialized cargo, helping our micro, small and medium enterprises reach global markets.
Mitsubishi Corporation’s $700 million investment in Ayala Corporation is expected to be among the largest foreign equity investments in the Philippines in recent years.
Meanwhile, Vena Energy plans to build an additional 1.29 gigawatt capacity, backed by an additional 52 billion equity infusion over the next two years. This is on top of an existing 887 megawatt operational capacity and about 1.26 gigawatts under construction.
These developments directly align with our goal of achieving a 35 percent renewable energy share in power generation by 2030 and 50 percent by the year 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.
Ang Singapore ay isa sa mga pangunahing katuwang ng Pilipinas sa ekonomiya at tiniyak natin na mananatiling masigla at malapit ang ugnayan natin sa pamahalaan at sektor ng negosyo dito.
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.
To power our growth, we will keep studying all viable options for our long-term energy security and build the technical capability to make informed decisions for our future.
With this in mind, I visited the Singapore Nuclear Research and Safety Institute, where we learned about Singapore’s work in nuclear research and technology, and most importantly, safety.
We returned home having strengthened an important partnership, opened new opportunities for investment and cooperation, and advanced our preparations for the economy that we want to build for the Filipino people.
The Philippine delegation and I are deeply grateful to the government and people of Singapore for their wonderful hospitality and warm welcome.
Maraming salamat po at magandang araw po sa inyong lahat.
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