The Philippines-Singapore Business Council (PSBC), in partnership with the Singapore Business Federation (SBF), organized a four-day business mission to Manila last 2-5 April 2014, held in conjunction with the State Visit of President of Singapore Dr. Tony Tan Keng Yam. On April 4, the PSBC-SBF business delegation participated in a Trade and Investments Briefing organized by the Department of Trade and Industry (DTI) in Makati City.
DTI Undersecretary for Trade and Investment Promotions Ponciano C. Manalo, Jr. highlighted investment opportunities in health, shipbuilding, business process management, information technology services, electronics manufacturing services, aerospace development and aircraft maintenance, repair and overhaul (MRO) services.
“I encourage all of us to continue to work together toward sustained growth and shared prosperity. I look forward to more opportunities for collaboration across various business sectors between our business communities,” said Undersecretary Manalo during the briefing.
The DTI Briefing also included presentations on the Investment Climate by Director Angie Cayas of the Board of Investments and on Trade Opportunities by Director Senen Perlada of the Export Marketing Bureau. A roundtable meeting between the members of the Philippine and Singaporean members of the PSBC was conducted afterwards which served as a platform for both delegations to discuss the state of the two countries’ bilateral relations, opportunities for trade, investment priorities, and ASEAN regional integration.
The 11-member PSBC-SBF business delegation was composed of executives from Singaporean companies, agencies, and business organizations representing a range of industries, and trade and investment interests, such as real estate development, transportation, utilities, and merchandising and retail. Among the Singaporean companies represented in the delegation were Keppel Corporation, Keppel Properties Ltd., Changi Airports International, and Ascott Ltd.
In 2013, Singapore was the Philippines’ fourth largest trading partner, fifth export market and sixth import source. It was also the Philippines’ fifth source of investments and seventh source of remittances.