Philippines Invites Businesses in Singapore to Join Economic Take Off Towards Greener and Sustainable Future at 4th PH-Singapore Business and Investment Summit
(From Left to Right): Philippine Ambassador to Singapore H.E. Medardo G. Macaraig with Secretary Arsenio M. Balisacan (NEDA), Secretary Renato U. Solidum Jr. (DOST), Secretary Amenah F. Pangandaman (DBM), Secretary Ralph G. Recto (DOF), Secretary Leo Tereso A. Magno (Chairperson), Mindanao Development Authority (MINDA), Secretary Sonny M. Angara (DepEd). (Singapore PE photo)
SINGAPORE 24 SEPTEMBER 2024 — The 4th Philippines-Singapore Business and Investment Summit (PSBIS), organized by the Philippine Embassy in Singapore with its attached agency, the Philippine Trade and Investment Centre Singapore (PTIC Singapore), concludes this afternoon with a strong appeal for both PH and SG businesses to maximize the potential of the PH as a strategic trade partner and emerging investment destination.
Held at the Shangri-La Hotel Singapore, the 2024 Summit that is now on its 4th iteration, gathered more than 200 participants from the PH’s and SG’s government, business community and private sector.
BDO President and CEO Nestor Tan welcomed the attendees to the 4th PSBIS, highlighting that as a country full of opportunities, it has a potential for economic takeoff, and is an attractive business and investment destination for infrastructure, transportation, and urban renewal, among many other sectors.
In his opening remarks, Philippine Ambassador Medardo G. Macaraig said that both the PH and SG, “recognize the importance of developing sustainable, eco-friendly businesses and green ecosystems to allow industries to thrive”, and that by aligning economic strategies with sustainability goals, both countries can “become leaders in the green and blue economy, setting a model for the rest of the region”.
Finance Secretary Recto, in his keynote speech, emphasized the PH stable political environment and investment landscape that has never been more open and liberalized. Furthermore, he added that the Philippines is ready to elevate PH-SG relations to a higher level and that the partnership is critical for a greener future. He also urged Singaporean businesses to explore the wide range of opportunities in the PH, which will be made more attractive by the anticipated enactment of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE).
Joining the powerhouse roster of high-level speakers were Secretary for Education Hon. Juan Edgardo “Sonny” M. Angara, Secretary for Science and Technology Hon. Renato U. Solidum Jr., Secretary of Budget and Management Hon. Amenah F. Pangandaman, Secretary for National Economic and Development Authority Hon. Arsenio M. Balisacan and Chairperson of the Mindanao Development Authority, Secretary Leo Tereso A. Magno, General Manager of the National Development Company Antonilo DC Mauricio, Director General of the Philippine Economic Zone Authority Tereso O. Panga, and President and CEO of the Bases Conversion Development Authority Engr. Joshua M. Bingcang.
One of the highlights of the PSBIS was the presentation of the signing of a Memorandum of Understanding (MOU) to launch the Philippine Innovation Hub (PIH) at the Singapore Management University, led by National Development Company (NDC) General Manager, Undersecretary Antonilo Mauricio. The Innovation Hub will foster a collaborative ecosystem for innovation, accelerate start-up growth and global competitiveness, and promote inclusive and sustainable economic development. It is a tangible representation of the strong ties between the PH and SG, united by a shared vision of innovation-driven economic progress.
The PSBIS is a high-level forum bringing together Minister-level officials, business leaders, and key decision-makers from the Philippines and Singapore. The 4th PSBIS marked the return of its in-person format after the COVID-19 pandemic.
In celebration of 55 years of diplomatic ties, the 2024 summit, with the theme, “The Next 55 Years: Philippines and Singapore Partnership for a Green and Sustainable Future”, focused on strengthening the Philippines-Singapore partnership by fostering greener and more sustainable economic growth. (END).
#PSBIS2024 #PHSGPartnership #SustainableGrowth #PHSG55 #GreenerFuture
(Left to Right) In the first PSBIS Panel “Green Blueprint:Economic Outlook, Priority Expenditures and Strategic Investment Priorities” DBM Undersecretary Margaux Salcedo moderated the panelists, featuring DBM Secretary Amenah F. Pangandaman, NEDA Secretary Arsenio M. Balisacan, and Ambassador Medardo G. Macaraig as they discussed the government support for green ecosystems, streamlined processes for strategic investments, and incentives to attract high-impact investments that promote sustainable growth. (Singapore PE photo)
(Left to Right) In the second PSBIS Panel “Building Better: Sustainable Infrastructure and Green Industry Growth”, Founder / CEO of OceanPixel Dr. Michael Lochinvar Abundo, moderated the panelists from the Philippine government and the private sectors, namely, Mindanao Development Authority Secretary Leo Tereso A. Magno, Bases Conversion and Development Authority President & CEO Joshua M. Bingcang, BDO Capital & Investment Corporation President Eduardo V. Francisco), and Aboitiz InfraCapital - Economic Estates Vice President Monica L. Trajano as they discussed green financing and sustainable city development.(Singapore PE photo)
In PSBIS Panel 3: “Innovate and CREATE - Transformative Technology and Advanced Manufacturing”, (2nd from the Left to Right) DepEd Secretary Juan Edgardo Angara, DOST Secretary Renato U. Solidum Jr., NDC General Manager Antonilo Mauricio, and PEZA Director General Tereso Panga discussed how technology and innovation can drive sustainability and economic growth. They underscored how strategic partnerships with the Philippine government and private sector, along with incentives in economic zones, can attract investments in advanced manufacturing and emerging technologies. (Left) Moderated by Atty. Joy Anne B. Lai.(Singapore PE photo)
For the fourth and final PSBIS panel, “Pathways to Success - From Singapore Hubs to Philippine Growth”, Moderated by Atty. Carla Regina Grepo, Commercial Counselor of Philippine Trade and Investment Center Singapore, top executives from leading Singapore-based companies such as Fullerton Health, TikTok, Macquarie Capital, Foxmont Capital Partners and BDO, shared their strategies and experiences entering the Philippine market. They also provided their insights and advice for businesses looking to explore growth opportunities in the Philippines.
Launching of the Philippine Innovation or iHub at SMU’s “The Greenhouse”. (Singapore PE photo)
For more information, visit https://www.singaporepe.dfa.gov.ph , https://www.philippine-embassy.org.sg , https://www.facebook.com/PHinSingapore or https://www.instagram.com/phinsingapore/.