Maraming interesting! Marcos advertises with investment commitments from the trip to Switzerland
Several foreign investors have indicated their intention to explore business opportunities in the Philippines, President Ferdinand R. Marcos Jr. said of his successful attendance at the 2023 World Economic Forum in Switzerland on Saturday after arriving.
Marcos said his participation in the WEF has enabled the Philippine government to open up new trade and investment opportunities for potential foreign investors, forge key partnerships in support of his government’s economic development agenda, and secure commitments for increased cooperation with various countries.
“I am pleased with the progress we have made during our pivotal participation in the World Economic Forum, a truly global, multi-stakeholder platform. This trip is quite unique because of the medium and long-term goodwill and interests we have created for our country, our companies and our people,” said Marcos in his arrival statement after his 6-day Switzerland trip.
The President, along with his delegation, arrived in Manila at around 4:18 p.m. on a chartered flight.
Marcos noted a pledge from business leaders he met on the sidelines of WEF activities to invest in the Philippines’ key sectors, including mining, processing, digital solutions, logistics, telecommunications and renewable fuels.
The investment commitments, according to Marcos, would give local firms in the Philippines the opportunity “to participate more deeply in global value chains”.
“We will now work to consolidate and expand on these contacts and discussions that we have started,” Marcos said.
“The measure of success will be how much of it we can bring to fruition. This process has begun and we will continue until we see the final results of this effort,” he added.
Marcos said Finance Minister Benjamin Diokno and Socio-Economic Planning Minister Arsenio Balisacan are still in Switzerland for “follow-up meetings” with Davos business and political leaders.
Diokno and Balisacan, the country’s economic managers, are part of the official Philippine delegation to the annual WEF.
Marcos also expressed his appreciation for the strong presence of top Filipino business leaders in Switzerland to help his administration foster partnerships with international private executives.
While in Davos, Switzerland, Marcos held a series of meetings with executives from logistics company DP World, mining and resources training giant Glencore, and leading investment banking firm Morgan Stanley.
The three international companies have announced plans to expand their operations in the Philippines.
drivers of economic growth
Marcos also believed attendees recognized the country’s vital role in solving challenges by “helping to heal the rifts that have fractured the world.”
He also said he could convey to attendees that the Philippines is also a major engine of economic growth, not just in the Asia-Pacific region but globally.
“We have a role to play in this, particularly as a member state of ASEAN (Association of Southeast Asian Nations) and as the leading economy in Asia,” Marcos said.
“We shared our insights and experiences of being resilient, hardworking people, uniting in adversity, and looking out for one another in crises,” he added.
highlight policies
While attending the WEF, Marcos said he highlighted his government’s policies, including the Philippine Development Plan, the Eight-Point Socio-Economic Agenda and various other economic reform policies and laws.
He added that he also highlights the Philippines’ work in trade and investment, monetary and fiscal policies, food and energy security, climate change mitigation, structural reforms, digitization, public-private partnerships, health and nutrition, education and other social services.
Also, the President said he met with WEF Founder and Chair Klaus Schwab to discuss partnerships and collaborations to help the Philippines sustain “equitable and inclusive” growth and provide Filipinos with a “better quality of life.” .
Marcos said he also held separate meetings with world leaders such as World Trade Organization Director Ngozi Okonjo-Iweala, World Bank Managing Director Axel van Trotsenburg, Managing Director of the International Monetary Fund Kristalina Georgiva and former British Prime Minister Anthony Charles Lynton Blair .
Meetings with world leaders, Marcos said, focused on a commitment to push for shared priorities and support for the multilateral trading system that will be beneficial to the global economy. (PNA)