PH, Singapore reaffirm economic partnership

The Philippines, through President Rodrigo R. Duterte (center) and the Department of Trade and Industry’s Secretary Ramon M. Lopez (3rd from right) reaffirm strong economic partnership with Singapore through the Singapore Business Federation (SBF). They discussed increased collaboration in sectors such as food, engineering and architecture services, aircraft and MRO services, infrastructure, construction and public-private partnership (PPP), shipbuilding, Information Technology and Business Process Management (IT-BPM), tourism, and startup. In 2015, approved investments from Singapore reached US$370 million, making the Lion City the fifth largest source of investments globally and the highest in ASEAN. Total Philippine exports to Singapore amounted to $3.6 billion making it as the 5th largest export market of the country.