The Philippine delegation to the 2024 World Economic Forum (WEF) will drum up the message of President Marcos that the Philippines is open for business and is the best place in the region for foreign investments, Speaker Martin Romualdez said.
“We want to reiterate the message so it is not lost. We will repeat the message that the Philippines is open for business, we are strong, and we are united,” Romualdez said during discussions at the welcome lunch for the Philippine delegation held at Hotel Belvedere in Davos.
WEF head of Business Engagement for the Asia-Pacific Clara Chung, World Trade Organization Permanent Representative Ambassador Manuel Teehankee, Philippine Ambassador to the Swiss Confederation and Principality of Liechtenstein Bernard Faustino Dy, and other affiliates welcomed the Philippine delegation.
Romualdez, who heads the country’s delegation, underscored the sound economic fundamentals of the Philippines, including its “fantastic macro figures.”
“We are in the fastest growing region, we are the bright spot amid the global recession that we are suffering from. And within that bright spot, we look at the Philippines as the best country to invest in,” said Romualdez.
He said the Philippines enjoys a very stable government, with a strong and very popular leader in President Marcos.
The Speaker also highlighted efforts to make the Philippines more investor-friendly, particularly efforts to relax the restrictive economic provisions of the 1987 Constitution.
He said the Senate, which has been previously reluctant to proposals to amend the Constitution, has initiated the process to introduce changes to some economic provisions of the charter.
“It would be a welcome development for our trade partners. It proves that ‘we walk the talk.’ When we talk about opening up our economy, we actualize it through acts that are clearly tangible. Again, thanks to the leadership of the Marcos administration,” Romualdez said.
Moreover, the Speaker said the Philippines now has an investment vehicle through its sovereign wealth fund – the Maharlika Investment Fund.
“We are very excited for this because we believe that the Philippines has so much to offer and there is so much for the Philippines to gain from this engagement and we want to make the most of it,” he said.