President Bongbong Marcos’ economic managers are set to hold the second Philippine Economic Briefing (PEB) in Singapore on June 15, underscoring the city-state’s significance as a prime investment target.
Following the success of the first PEB in Singapore last year, Marcos’ economic team is looking forward to engage with Singapore-based business leaders, bankers, and investors once again.
The first PEB in Singapore resulted in $6.5 billion worth of investment pledges, with the transportation sector attracting the highest investment of $5 billion for the manufacturing of electronic tricycles.
It also includes investment in renewable energy through floating solar panels generating energy to power communities, amounting to $1.2 billion.
According to the Department of Budget and Management, these achievements reflect the robust economic ties between Singapore and the Philippines, with Singapore ranking among the top sources of foreign direct investments in the country.
In addition to the PEB, the economic team is scheduled to hold sideline meetings with DBS Bank, HSBC, and Singapore’s Second Minister for Finance and Second Minister for National Development, Indranee Rajah.