MANILA, Philippines – Singaporean President Tony Tan Keng Yam said he foresees a bright future for the Philippines, given its rich resources and vibrant workforce.
Speaking before members of the Philippines-Singapore Business Council (PSBC) at the Philam Life Tower in Makati City on Friday, President Tan said the Philippines’ economic growth has been remarkable in recent years.
“It is consistently one of the strongest in Asia, and expanded an impressive 7.2 percent last year. Investment figures also recorded a 10 percent growth in 2013. With its rich resources and a vibrant workforce, the future shines bright for the Philippines,” he said.
These developments give Singapore’s businesses an opportunity to take part in the country’s success, he said.
The Singaporean leader also said he observes a growing number of businesses from his country coming to the Philippines to look for possible investments.
Last year, the International Enterprise Singapore (IE Singapore) conducted seven business trips to the Philippines and hosted six similar visits from the Philippines.
“I expect this number to grow, as more Singapore professionals and entrepreneurs venture here to tap on the Philippines’s growth potential,” he said.
To facilitate this growing interest, IE Singapore established an overseas center in Manila three months ago, he said.
