MANILA – Philippine President Ferdinand Romualdez Marcos has said that his visits to Indonesia and Singapore were “fruitful and engaging”, resulting in “signed and sealed” investment commitments amounting to over US$14 billion (RM63 billion).
“(The pledges) will support our country’s economic recovery efforts to create more jobs for Filipinos here in the country,” Marcos said shortly after arriving in Manila yesterday night.
Marcos said during his visit to the two Southeast Asian countries, he witnessed the signing of 22 letters of intent and memoranda of understanding in renewable energy, data centres, e-commerce, broadband technology, start-ups, government housing, and agriculture with Indonesian and Singaporean investors.
Marcos met with Indonesia President Joko Widodo during his three-day visit to the archipelagic state that kicked off on September 4 to discuss overall bilateral ties.
“Our conversation covered all facets of our relations, particularly on defence, security, maritime cooperation, trade and investment, and people-to-people ties,” Marcos said.
He said they also talked about importing fertilisers to the Philippines and increasing coal imports for energy supply.
In Singapore, Marcos met with the island state’s President Halimah Yacob and Prime Minister Lee Hsien Loong. Marcos and Lee witnessed the signing and exchange of agreements on counterterrorism, personal data protection, digital cooperation, water resource management and investment.
Singapore is the Philippines’ top trading partner in Southeast Asia and sixth worldwide, and the Philippines’ leading source of approved investments in 2021.
Marcos’ visits to Indonesia and Singapore were his first overseas trips since assuming the presidency in June. – Bernama, September 8, 2022
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