The Singapore Embassy in Manila hosted a lively Lunar New Year Reception to celebrate the Year of the Snake, bringing together business partners, investors, and stakeholders to mark the occasion and reaffirm Singapore’s role as a key economic partner of the Philippines. The event was held on 12 February 2025, the 15th and final day of the Lunar New Year, at the Singapore Embassy in Bonifacio Global City, Taguig.
The 120 guests were treated to an energetic traditional Lion Dance. They also participated in the “Lo Hei”, an uniquely Singaporean tradition of tossing a prosperity salad to bring good fortune and good luck. The festive gathering was graced by Taguig City Mayor Lani Cayetano. Other guests included leaders from the private sector, key industry stakeholders, and government representatives, reinforcing Singapore’s commitment to expanding trade and investment with the Philippines.
In her remarks, Singapore Ambassador Constance See underscored the robust trade and investment ties between Singapore and the Philippines, highlighting Singapore’s position as a top foreign investor in the country.
Ambassador See noted that Singapore and the Philippines share a deep and dynamic partnership. Singaporean companies are actively contributing to the Philippines’ growth across critical sectors such as smart and sustainable infrastructure, renewable energy, water and waste management, digital innovation, and financial services. These are long-term investments in the Philippines’ future, reflecting Singapore’s confidence in its economy and people. The Philippines’ entrepreneurial spirit and strong economic fundamentals make it an attractive partner for Singaporean businesses.
Singapore has been among the Philippines’ top foreign investors for years, with FDI commitments around USD 700 million in 2023. The economic partnership continues to evolve, with increasing interest in climate technologies, decarbonisation, sustainability initiatives, and carbon and transition credits, as both countries work towards a greener and more resilient future. Ambassador See highlighted the trend of growing Singaporean FDI into the Philippines. In the five year period from 2017 to 2022, Singapore investments in the Philippines grew by almost 40%.
Ambassador See also noted that “2025 marks 60 years of (Singapore’s) nationhood—six decades of resilience, reinvention, and resourcefulness. We are a small country, but we have always believed in thinking big, staying agile, and forging strong partnerships. And one of our most trusted partners in this journey has been the Philippines.”
Last year, Singapore and the Philippines celebrated 55 years of diplomatic relations. The high-level exchanges in the past year included President Ferdinand R Marcos Jr.’s keynote address at the IISS Shangri-La Dialogue and the visits of President Tharman Shanmugaratnam and Foreign Minister Dr. Vivian Balakrishnan to the Philippines. These reaffirmed the deep and enduring bilateral ties.
Beyond trade and investment, the two countries enjoy multifaceted cooperation in areas such as education, culture, labour, biodiversity conservation, defence and security. A Republic of Singapore Navy vessel will call at the port of Manila from 13 to 16 February 2025, as part of a goodwill visit, reflecting the excellent bilateral defence relations and growing defence engagement.
“Singapore and the Philippines have always embraced challenges as opportunities. As we enter the Year of the Snake—symbolising wisdom and adaptability—I hope we can seize new possibilities and build an even stronger future together,” Ambassador See added.
