MARCOS ASKS SINGAPORE TO INVEST MORE IN PH RENEWABLE ENERGY PROJECTS

President Ferdinand R. Marcos Jr. and Singapore Prime Minister Lawrence Wong reaffirmed their commitment to strengthening bilateral cooperation, agreeing to explore expanded collaboration in the field of renewable energy during their meeting at Malacañang on Wednesday.

President Marcos acknowledged that Singapore remains a major partner in the Philippines’ goal to diversify its energy sources.

“I encouraged Singapore to increase its investments in the renewable energy sector as part of our forward-looking bilateral agenda,” President Marcos said during a joint press conference following their bilateral meeting.

Wong, who is on an introductory visit to the Philippines from June 4 to 5, stated that Singaporean companies are interested in investing in renewable energy projects in the Philippines, including solar and wind projects.

“Such projects can generate economic opportunities for the Philippines while supporting the Philippines’ renewable energy targets,” he said during the joint press conference.

Wong said he and President Marcos agreed to accelerate efforts to promote renewable energy and achieve the ASEAN Power Grid.

The two leaders also agreed to take further action on climate change mitigation by commencing negotiations on an implementing agreement for a carbon credits mechanism, in line with Article 6.2 of the Paris Agreement.

President Marcos said the early completion of the negotiations “will result in climate-friendly actions and increased investments in related sectors, thereby creating meaningful and sustainable livelihood and business opportunities for both Filipinos and Singaporeans alike, while producing good sustainability outcomes for our local communities.”

The two leaders also agreed to bolster people-to-people links between the two countries.

Acknowledging the contribution of the Filipino community in Singapore, Wong said he conveyed to  President Marcos “Singapore’s appreciation for their invaluable contributions, especially the Filipino healthcare workers who stood with us during the COVID-19 pandemic.”

The Singapore leader said both health ministries are also exploring ways to deepen cooperation through a broader healthcare partnership.

Wong also said that both countries are stepping up cooperation in human resource development across various fields, including digitalization, while stressing Singapore’s support for the Philippines’ capacity-building efforts.

The Singapore prime minister assured President Marcos of full support for the Philippines’ chairmanship of the Association of Southeast Asian Nations (ASEAN) next year.