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President Ferdinand “Bongbong” Marcos Jr. returned to the Philippines on Monday after his working visit to Singapore, where he discussed cargo and energy expansion and investment opportunities with business leaders.
In his arrival statement, Marcos said he met business leaders, including officials from FedEx, Mitsubishi Corporation, and Vena Energy.
During his meeting with FedEx, Marcos said the company plans to expand its Clark Gateway Hub in Pampanga, which is scheduled to open in the fourth quarter of 2028.
“The expanded hub will significantly increase capacity for international air freight and specialized cargo, helping our micro, small and medium enterprises reach global markets,” Marcos said.
He also announced that Mitsubishi Corporation will invest $700 million in Ayala Corporation, which is “expected to be among the largest foreign equity investments in the Philippines in recent years.”
Meanwhile, Vena Energy plans to add 1.29 gigawatts of capacity, backed by a P52-billion equity investment over the next two years.
“This is on top of an existing 887 megawatt operational capacity and about 1.26 gigawatts under construction,” the President said.
“These developments directly align with our goal of achieving a 35% renewable energy share in power generation by 2030 and 50% by the year 2040,” he added.
Marcos earlier said his working visit to Singapore from October 7 to 11 would help prepare the Philippines for the industries of the future.
He also participated in the 24th Forbes Global CEO Conference, where he engaged with government and business leaders from other countries, including Singapore Prime Minister Lawrence Wong.
Presenting the Philippines’ economic priorities, Marcos said he shared the country’s growing exports, efforts to ease doing business, and plans to strengthen its technological capabilities through research and development.
He added that he highlighted the country’s resolve to fight corruption, strengthen digital safeguards, build strong international economic ties, protect its sovereignty, sovereign rights, and jurisdiction in the West Philippine Sea, and contribute to regional peace and stability.
“Our objective is not simply to attract investments today. We must also prepare the energy supply, the infrastructure, technology, and human capital necessary to sustain the industries of tomorrow,” Marcos said.
“To power our growth, we will keep studying all viable options for our long-term energy security and build the technical capability to make informed decisions for our future,” he added.
The President also visited the Singapore Nuclear Research and Safety Institute, where he said he learned about Singapore’s work in nuclear research, technology, and safety.
“We returned home having strengthened an important partnership, opened new opportunities for investment and cooperation, and advanced our preparations for the economy that we want to build for the Filipino people,” Marcos said. —Mariel Celine Serquiña/AOL, GMA News