Marcos touts business, energy investments after Singapore visit

Following his five-day working visit to Singapore, President Ferdinand Marcos Jr. emphasized investment commitments from Singapore-based corporations upon his return to the Philippines on Monday, October 12. During his arrival, Marcos met with executives from FedEx, Mitsubishi Corp., and Vena Energy, where they discussed investment pledges for the Philippine business and energy sectors.

Mitsubishi committed $700 million in investment, increasing its ownership stake in Ayala Corp. from 4.7% to 15%. FedEx expressed interest in expanding its Clark Gateway Hub in Pampanga, which is set to open by the end of 2028, enabling small and medium enterprises (MSMEs) to sell their products in the international market. Vena Energy plans to expand its presence in the Philippines, investing P52 billion over the next two years in renewable energy projects to increase power generation capacity and support the government's goal of achieving a 35% renewable energy share in the country's power supply by 2030 and 50% by 2040.

The president also visited the Singapore Nuclear Research and Safety Institute to explore nuclear energy as a power source, emphasizing his support for integrating it into the country's power mix to reduce electricity costs despite criticism from environmental advocates.