NextGen Day

President Ferdinand “Bongbong” Marcos Jr.’s two-day state visit to Singapore is expected to result in business transactions worth USD6.54 billion (PHP374.57) for the Philippines.

During the Singapore business roundtable discussion on Wednesday, Marcos’ visit to Singapore led to the signing of several letters of intent to invest in the Philippines.

According to a Malacanang press release, these letters of intent are anticipated to create 15,000 new jobs for Filipinos.

The electronic tricycle industry in the Philippines is Singapore’s largest investment, valued at $5 billion.

The Palace stated without providing any information that “this investment in the transportation sector is seen to minimize air pollution caused by an estimated 3.5 million tricycles nationally.”

The second largest investment was in renewable energy, specifically in floating solar, a novel technology valued at USD1.2 billion.

According to Press Secretary Trixie Cruz-Angeles, “you will observe that the top two investments of Singapore to the Philippines are both environmentally beneficial and are in line with the government’s agenda on climate change.”

The construction of a 200 million dollar in-country data center is the third largest investment made by Singapore and is expected to employ Filipinos, particularly in the information technology (IT) and creative industries.

Businessmen from Singapore have also shown interest in the so-called “Blue Economy,” where they plan to spend $10 million to $100 million on projects like aquaculture, desalination, electric boats, and marine renewable energy.

Additionally, investments in “Women in Technology” and “Innovation Platform for Start-ups” totaling $20 million were pledged (USD20 million).

hiring of employees

Additionally, the Singaporean government gave the go-ahead for the employment of about 10,000 Filipinos in the city-state, which already hosts about 200,000 Filipino migrant workers.

According to Susan Ople, secretary of the Department of Migrant Workers, this happened when she met with Tan See Leng, minister of labor.

Ople added that there would be more and better job opportunities for Filipinos who wanted to work in Singapore due to the goodwill generated by the President’s state visit and the lifting of the guarantee bond that had been in place for 27 years.

Ople said, “Even before the President’s visit, our Philippine Overseas Labor Office in Singapore had already approved close to 10,000 job orders, with 5,000 jobs awaiting aircraft technicians in the aviation industry.”

The term “approved job orders” refers to the POLO being assigned immediate personnel requirements by Singaporean enterprises that are anticipated to be filled in the upcoming months.

Following is a breakdown of the accepted job orders provided by Singaporean employers: Five thousand aircraft technicians work in the aviation industry, three thousand in the medical field, one thousand in the engineering field, five hundred in the education field, and three hundred in the information technology field.

With the success of the President’s visit and the improvements in boosting ease of doing business techniques, including the digitalization of various recruitment processes, Ople predicted a spike in demand for OFWs in Singapore.

Marcos encouraged foreign companies to invest in the Philippines in a speech given at the Shangri-La Hotel during the Philippine Economic Briefing, calling it “Asia’s quickest rising star.”

As he invited strategic investors from across the world to participate in the Philippines’ “economic renaissance,” he urged firms to take advantage of the prospects in the nation.

Currently, we are moving steadily toward a strong epidemic recovery and a brisk economic boom. Our economy is anticipated to perform better than that of our neighbors in the next years. “My government is dedicated to creating a business environment that is even more competitive and supportive of high-value investments,” he said.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

Feel free to Email Us for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---