MANILA, Philippines — The Philippines and Singapore signed two separate memorandums of understanding (MOUs) on Thursday involving collaborations on carbon credits and the recruitment of Filipino healthcare workers.
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President Ferdinand Marcos Jr. and Singaporean President Tharman Shanmugaratnam witnessed the signing of the two MOUs after a bilateral meeting in Malacañang.
The first, an MOU on Collaboration on Carbon Credits Under Article 6 of the Paris Agreement, was signed by the Philippine Department of Environment and Natural Resource and the Ministry of Trade and Industry of the Republic of Singapore.
“Hopefully, with this memorandum, we will be able to incentivize both industries and individuals to actively work to reduce their carbon footprint, while allowing the government to mobilize financial resources to boost fiscal space,” said Marcos in a speech during the presentation of the signed agreements.
The second MOU involved the Recruitment of Filipino Healthcare Workers, which Marcos said would “ensure that a balance is achieved” between the needs of both countries’ healthcare workers.
“Through this MOU, we express our confidence in Singapore’s legal and judicial system, which will ensure that the rights, welfare, and well-being of our kababayan OFWs (overseas Filipino workers) will be protected as they pursue their careers in Singapore,” he added.
Other MOUs in the works
Meanwhile, Marcos also announced that MOUs between local government units and the Singapore private sector are also set to be signed, while another MOU on health cooperation is already being negotiated.
Shanmugaratnam and Singaporean delegates arrived in the country on Thursday for a three-day state visit.