PBBM urges biz community in Singapore to invest in PH, especially in renewable energy

Transcript

00:00 Food security and food production suffered due to lockdowns and school shutdowns.

00:05 Now it's turnaround time and government will provide inputs and aid to farmers and stakeholders

00:10 and ramp up R&D.

00:13 This as he opened the door and laid out the welcome mat for investors interested in growing

00:17 their money and the economy in renewables as our Kenneth Paciente reports.

00:24 On the attendance of President Ferdinand R. Marcos, Jr. at the 10th Asia Summit in Singapore,

00:29 he encouraged the Singaporean business community to invest in the country, particularly in

00:34 renewable energy.

00:35 The president shared that investors can now have 100% equity in the exploration, development

00:41 and utilization of energy sources in the Philippines such as solar, wind and hydropower.

00:46 According to the chief executive, investments can accelerate the country's target of achieving

00:51 its long-term climate target.

00:54 He also encouraged business leaders in Singapore to participate in the Philippines' goal of

00:58 strengthening renewable energy sector to better provide clean and cheap energy to the general

01:03 public.

01:04 President Marcos, Jr. also emphasized the country's steps to reduce electricity charges,

01:09 one of many reasons for Singaporean businesses to consider in choosing the Philippines as

01:14 an investment hub.

01:15 The president also believes that the tie between the Philippines and Singapore will further

01:19 flourish especially that up to now, the two countries have never had any issue.

01:24 The president said, "Opportunities just needed to be identified and agreed on to set things

01:29 in motion."

01:30 The president pointed out that Singapore plays a big part in the country's economy as the

01:34 biggest source of foreign direct investment.

01:38 Singapore is the fifth top destination for various homegrown or locally manufactured

01:41 products.

01:42 Kenneth Paciente, for The Nation.

01:45 [MUSIC PLAYING]