Singapore: Singapore's business community sees the Philippines as an ideal expansion destination, Singaporean Prime Minister Lawrence Wong said Wednesday. Wong acknowledged that the Philippines has been able to create an environment that is ripe for business development, citing the country's sustained growth momentum.

According to Philippines News Agency, Wong highlighted the strong ties between the two nations during a bilateral meeting with President Ferdinand R. Marcos Jr. at Malaca±an Palace in Manila. He expressed satisfaction with the growing business links and noted that Singapore is now one of the largest foreign investors in the Philippines. Singapore businesses are confident in the potential of the Philippine economy, and investments have been on the rise in recent years, with more opportunities anticipated.

Wong emphasized Singapore's intention to elevate its relationship with the Philippines, noting the potential for greater collaboration. He also acknowledged the increasing presence of Philippine companies in Singapore and expressed eagerness to explore partnerships in new and emerging sectors, such as the green economy and sustainability.

President Marcos expressed gratitude for Singapore's partnership in building a future-ready, inclusive, and innovation-driven service. Wong is currently visiting Manila for a two-day official visit.