SINGAPORE (via PLDT) --- Noting the improved economic and political
conditions in the Philippines, Singaporean businessmen have signified renewed interest in
investing in the Philippines in their meeting with President Gloria Macapagal-Arroyo here
yesterday.
The President held a series of meetings the whole
day and early evening yesterday with different groups of Singaporean businessmen to drum
up interest in investing in the Philippines.
Trade and Industry Secretary Peter Favila, who was
with the President, described the meetings with Singaporean investors as "very
productive."
She arrived here Sunday evening from Hanoi where
she attended the 14th annual leaders meeting of the Asia-Pacific Economic
Cooperation (APEC) forum last weekend.
With Singapore Airlines, Keppel and Development
Bank of Singapore already operating in the Philippines, and the SM tieup with Keppel, SIA
Engineering and Cebu Pacific, the President said she is looking forward to more
Singaporeans investing in the country.
"Noting the wide range of business in
Temasek’s profile, we enjoined Temasek to partner with us in developing
infrastructure projects to raise export competitiveness, in restructuring our power sector
and lowering our dependence on imported fuel. We also want you to look at retail services
such as tourism, ICT, BPO and telecommunications," the President said. (full story)
