PH showcases PPPs, infra, and investment opportunities to Singapore-based investors

The economic team, led by Finance Secretary Benjamin E. Diokno, held the seventh Philippine Economic Briefing (PEB) in Singapore on June 15, 2023 at the Fullerton Hotel to showcase the country’s robust growth and new investment opportunities.

“We will harness private capital and expertise through the public-private partnership mechanism. This will be critical in upgrading our health, energy, logistics, agriculture, transportation, telecommunications, digital connectivity, and water infrastructure––key sectors identified in the recently published Infrastructure Flagship Projects list approved by the NEDA Board,” Secretary Diokno said in his keynote message.

The PEB in Singapore was jointly organized by the BSP’s Investor Relations Group (BSP-IRG), Department of Finance (DOF), DBS Bank, and the Investment & Capital Corporation of the Philippines (ICCP).

It was attended by around 110 foreign investors from business and financial communities, including business chambers and the media.

“Beyond question, Singapore holds a special place in the Philippines’ growth story. This year, we celebrate 54 years of diplomatic relations, an enduring partnership characterized by strong political, economic, cultural, and people-to-people ties,” Secretary Diokno said.

Singapore is the Philippines’ top source of foreign direct investment (FDI) inflows, with investments in key sectors including renewable energy (RE), infrastructure, healthcare, manufacturing, and information and communications technology (ICT). It is also the Philippines’ seventh largest trading partner globally, fifth largest export market, and sixth largest import supplier.

The economic team held its first economic briefing in Singapore last September 9, 2022. Since then, the Philippine economy has witnessed positive developments, growing by a robust 7.6 percent in 2022 and 6.4 percent in the first quarter of 2023, outpacing emerging Asian economies including India, Malaysia, Indonesia, China, Vietnam, and Thailand.

The expansion was broad-based across the three major production sectors, led by Services (8.4 percent), then Industry (3.9 percent) and Agriculture (2.2 percent).

BSP Deputy Governor Francisco G. Dakila, Jr.