Singapore's Tharman: We see PH's economic potential

Singaporean companies are looking forward to investing in the Philippines as they see the country's economic potential, Singaporean President Tharman Shanmugaratnam said on Thursday.

''We see ourselves as a partner in [the] Philippines' development, in all aspects... economic development, sustainability, inclusive growth, we see ourself as a partner in the long term,'' Shanmugaratnam said in a joint press conference.

''Our companies are keen to invest in the Philippines, in fact we are one of the top foreign investors in the Philippines in a range of industries,'' he added.

Last year, the country’s total trade with Singapore was at US$10.62 billion, with US$3.53 billion in exports and US$7.09 billion in imports, according to the Presidential Communications Office.

The PCO added that in the same year, Singapore ranked as the country’s 8th largest trading partner, 6th export market (out of 205) and 7th import supplier (out of 221).

Based on recent estimates, there are 200,000 Filipinos living and working in Singapore.—RF, GMA Integrated News