00:00Spirit, we have just witnessed the exchange of the memoranda of understandings for collaboration
00:06on carbon credits under Article 6 of the Paris Agreement between the Department of Environment
00:12and Natural Resources of the Philippines and the Ministry of Trade and Industry
00:16of the Republic of Singapore. Hopefully, with this memorandum, we will be able to incentivize
00:22both industries and individuals to actively work to reduce their carbon footprint while
00:28allowing the government to mobilize financial resources to boost fiscal space. We also witnessed
00:35today the exchange of the memorandum of understanding on the recruitment of Filipino
00:42health care workers. Our ministries have worked hard on this MOU in order to ensure that a balance
00:48is achieved between the needs of the health care sector of both countries as well as a need for
00:54personal development and growth of our health care workers. Through this MOU, we express our
01:00confidence in Singapore's legal and judicial system, which will ensure that the rights,
01:05welfare, and well-being of our Kababayan OFWs will be protected as they pursue their careers in
01:12Singapore. In addition to the MOU stated above, another MOU on health cooperation is presently
01:19being negotiated by our health ministries so that when the contracts of our OFWs are
01:26nearing completion, they will be able to reintegrate into the Philippine economy with ease.
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