Manila, June 4 -- Singapore's business community sees the Philippines as an ideal expansion destination, Singaporean Prime Minister Lawrence Wong said Wednesday.

Wong acknowledged that the Philippines has been able to create an environment that is ripe for business development, citing the country's sustained growth momentum.

"Our close ties cover so many different areas, but on the business side, I'm glad to see the links growing year by year," he told President Ferdinand R. Marcos Jr. during a bilateral meeting at Malacanan Palace in Manila.

"Singapore businesses are confident in the dynamism and the potential of the Philippines economy, and we are now one of the largest foreign investors in the Philippines. The investments have been ...