SINGAPORE has become a “vital source” of foreign direct investments to the country in 2021, as its investments to the Philippines has “more than tripled” during the year.
Singapore’s FDI to the country hit $761 million in 2021, rising from the $237 million seen in the previous year. “We invite you to continue working with us as we move into the next chapters of our economic development,” the governor added, addressing Singapore investors. In November 2021, the BSP and the Monetary Authority of Singapore signed an enhanced FinTech Cooperation Agreement.
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