PHL Embassy Promotes Investments Among Singapore Business Executives
Ambassador Antonio A. Morales interacts with representatives from Fullerton Health and Keppel after the lunch co-hosted by Mr. Bill Foo and DFDL, an international law firm, to encourage Singaporean investors to explore the Philippines.
03 May 2017 SINGAPORE – The Philippine Ambassador to Singapore Antonio A. Morales was the guest of honor during a lunch hosted by Martin Deatels of DFDL, an international law firm with presence in ASEAN and Bangladesh, and Mr. Bill Foo, a prominent Singaporean business leader on April 25.
Ambassador Morales gave a general overview of the investment climate in the Philippines and economic relations with Singapore. He highlighted Singapore as Philippines’ largest source of investments in ASEAN in 2016, 4th largest trading partner globally, and 4th largest source of remittances.
“We hope that the State Visit of President Rodrigo R. Duterte to Singapore last December and the ongoing Philippine Chairmanship of ASEAN will translate to more tangible economic benefits for the country, especially those coming from Singapore,” said Ambassador Morales.
Atty. Jude Ocampo, Partner of Ocampo & Suralvo Law Offices and DFDL’s Manila affiliate, made a brief presentation on the legal and investment considerations, including trends and risks on investing in the country. He highlighted the Administration’s emphasis on law and order, while the “golden age of infrastructure” maintains the positive economic climate in the Philippines.
Commercial Counsellor Glenn G. Penaranda, meanwhile, promoted the energy, real estate, manufacturing, and arts and entertainment (including casinos), tourism and hospitality sectors as among the most promising for foreign investors.
Participants were encouraged to explore various parts of the Philippines for their investments in line with the government’s thrust to diversify development away from the usual centers of business. These areas include Clark, Bacolod, Dumaguete, Iloilo, Naga, Baguio, and Davao.
Present during the lunch presentation were Singaporean companies Lux Asia, Glencore Asia, Ascott Residence, TAEL Partners, Keppel Land International Limited, Mewah Oils & Fats Pte Ltd, and Fullerton Health.
For more information, visit www.singaporepe.dfa.gov.ph/ www.philippine-embassy.org.sg or https://www.facebook.com/SingaporePE. END