Arya News - Singapore has been a key source of foreign investment for the Philippines, with cooperation between the two countries expanding in recent years into newer areas such as digital infrastructure, renewable energy and climate financing.
MANILA – Philippine President Ferdinand Marcos Jr will make his fifth visit to Singapore from Oct 7 to 11, with key items on his agenda including investments, nuclear energy and closer coordination as Singapore prepares to take over the ASEAN chairmanship in 2027.
Marcos is making the five-day working visit at the invitation of Prime Minister Lawrence Wong, who has also invited him to attend the Formula 1 Singapore Grand Prix from Oct 9 to 11.
Wong will host Marcos for dinner during the race weekend, when the two leaders are expected to have a private engagement to discuss bilateral cooperation and regional developments.
The Singapore Grand Prix will also give Marcos opportunities to engage informally with government leaders, business executives and investors from Singapore and elsewhere, Philippine Foreign Affairs Assistant Secretary Analyn Ratonel said in a statement on Oct 6.
“The Singapore Grand Prix brings together government leaders, business executives, and investors from around the world. It would provide an opportunity for informal engagements to complement his meetings focused on attracting investment and strengthening the Philippines’ partnerships,” Ratonel said.
Marcos’s attendance at the Singapore Grand Prix has previously attracted scrutiny at home.
His trip to the race in 2022, months after taking office, was not announced beforehand and drew criticism as it came days after a powerful typhoon struck parts of the Philippines.
Marcos last visited Singapore in July, when he met Wong and business leaders to push for greater investments in the Philippines in areas such as digital infrastructure, artificial intelligence and healthcare.
“This working visit is part of the country’s initiative to deepen our ties with Singapore, expand our economic engagement, and advance our cooperation in sectors that will contribute to our country’s development,” Ratonel said.
Marcos will again court investors during his latest visit, including at the Forbes Global CEO Conference, where he is scheduled to have a one-on-one dialogue with Forbes Media chairman and editor-in-chief, Steve Forbes.
Singapore has been a key source of foreign investment for the Philippines, with cooperation between the two countries expanding in recent years into newer areas such as digital infrastructure, renewable energy and climate financing.
In April, the two countries signed a legally binding carbon credits agreement that allows the Singapore government and carbon tax-liable companies to buy eligible carbon credits generated from projects in the Philippines.
Marcos will also visit the Singapore Nuclear Research and Safety Institute, as his administration ramps up efforts to bring nuclear energy into the Philippines’ power mix.
Ratonel said the Philippines could learn from Singapore’s experience in nuclear research, safety, regulation and capability-building as Manila weighs its long-term energy options.
“Nuclear energy may be a key topic, given the Philippines’ growing power needs and the expansion of energy-intensive industries such as artificial intelligence and data centres,” she said.
Marcos has ordered Philippine energy officials to accelerate the country’s nuclear power push as the government looks for more reliable sources of electricity to meet rising demand.
The Philippines is studying possible sites for nuclear facilities and whether the mothballed Bataan Nuclear Power Plant, built during the presidency of Marcos’s late father but never commercially operated, could still have a role in the country’s energy future.
Singapore does not operate a nuclear power plant, but has been building expertise in nuclear science, safety, and radiation protection while studying emerging nuclear technologies.
The visit also comes as the Philippines enters the final stretch of its ASEAN chairmanship, before Singapore takes over the rotating role in 2027.
Marcos will lead the 49th ASEAN Summit in Manila from Nov 15 to 17, the final leaders’ summit under the Philippines’ chairmanship.
Ratonel said the timing of the visit was significant as it “provides an opportunity to further deepen coordination with Singapore and align priorities as the country prepares to assume the ASEAN chairmanship”.