Envoy: Taxpayer cash not spent for Marcos’ F1 trip

SINGAPORE — The Philippine ambassador to Singapore assured that no taxpayer money will be spent for President Ferdinand Marcos Jr.’s expected attendance at the Formula 1 Singapore Grand Prix at Marina Bay.

Philippine Ambassador to Singapore Medardo G. Macaraig said Marcos was invited by Singapore Prime Minister Lawrence Wong and would not have to pay for an F1 ticket.

“It was an invitation from Singapore’s Prime Minister Lawrence Wong, so there will be virtually no expense. He will not have to pay for a ticket. The only expenses we will incur are for the President’s trip to attend the Forbes Global CEO Conference and his visit to the Singapore Nuclear Research and Safety Institute,” Macaraig said at a press conference at the Philippine Embassy.

A three-day pass to the F1 Singapore Grand Prix costs S$2,198.74, or about P107,000, according to Singapore Tickets.

Macaraig defended Marcos’ attendance, saying the event provides an opportunity to meet global business leaders and pursue trade and investment deals.

“If I were asked, he should attend because deals are not made only at roundtable discussions. Events like this also bring together global business leaders, not just top Singaporean businessmen,” he said.

Progressive group Bagong Alyansang Makabayan (BAYAN) had criticized Marcos’ planned F1 appearance as insensitive amid the country’s economic difficulties and rising inflation.

Palace press officer and Presidential Communications Office Undersecretary Claire Castro defended the trip.

“If that statement came from BAYAN, obviously, we have not heard any positive comment from them about the administration. But let us not be blind to the reason why the President is going to Singapore,” Castro said.

“The President will be here to promote the country and take advantage of investment opportunities in digital technology, artificial intelligence, advanced manufacturing, infrastructure, energy and healthcare,” she added.

Investment source

Macaraig said Singapore remains one of the Philippines’ leading sources of foreign direct investment, generating jobs for Filipinos.

Two-way trade between the countries reached $9.27 billion in 2025, while Singapore was the largest source of foreign investment commitments approved by the Board of Investments in the first half of 2026, at P3.15 billion.

Macaraig said Singapore’s advances in artificial intelligence, data centers and nuclear research could open opportunities for cooperation.

About 450 business leaders are expected at the Forbes Global CEO Conference, which he said could lead to investment agreements.

Marcos will also visit the Singapore Nuclear Research and Safety Institute to discuss nuclear research, safety, regulation and emerging technologies.