President Ferdinand Marcos Jr. recently said that there is a huge opportunity for Singapore businesses if they consider the Philippines as an investment destination.

In a roundtable conversation with Singaporean businessmen, Marcos encouraged them to invest in the country's renewable energy, a smart and innovative economy, and infrastructure development under the Philippines' "Build, Better, More" program.

He also shared the policy changes in the Philippines, allowing 100 percent equity in the exploration, development, and utilization of solar, wind, hydro, and ocean or tidal energy resources to attract foreign investments.

"With this development, I encourage our Singapore partners to consider the Philippines and take part in the country's goal of increasing renewable share in power generation and offering lower cost and cleaner energy to the general public," he told investors in the energy sector.

The Philippines' start-up ecosystem also poses great potential with the country's young and competent talent who could thrive with strong government support and a dedicated start-up community.

"I invite you to look at the Philippines as your destination for your investment supporting a smart and innovative economy," he said.

Furthermore, the Philippines seeks opportunities in the areas of financial technology as it aims to achieve its goal of 50 percent digital retail transactions and 70 percent Filipino adults with bank accounts by the end of 2023 and to promote an inclusive, innovative, and healthy financial sector.

With the launching of the 8-Point Socioeconomic Agenda, the government aims to reinforce the Philippine economy's steady recovery and high growth trajectory, Marcos said, noting his administration's efforts to further promote investments, improve infrastructure, achieve energy security, create jobs, and develop priority industries.