Metro Manila (CNN Philippines, January 21) — President Ferdinand Marcos Jr. has announced new investment pledges for the Philippines following his six-day trip to Switzerland for the World Economic Forum (WEF), where he met top business executives and fellow world leaders.
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“The business meetings held promise of new investments in many of our economic sectors including mining, processing, digital solutions, logistics, telecommunications, renewable fuel, amongst others, and will enable our companies to participate deeper in global value chains,” said Marcos, who returned to Manila Saturday afternoon.
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No details were given on the investment pledges, but the president recalled the meetings and discussions he had — noting he shared at the WEF the Philippine Development Plan, 8-Point Socioeconomic Agenda, and budget strategies for the administration’s infrastructure program.
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According to Marcos, Finance Secretary Benjamin Diokno and Socioeconomic Planning Secretary Arsenio Balisacan stayed in Switzerland to participate in follow-up meetings with political and business leaders that were scheduled after the conference.
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In his arrival speech, Marcos said the engagement has enabled WEF attendees to receive the “good news” on the Philippines’ economic situation. He claimed that the country is leading in economic recovery and performance “not only in the Asia-Pacific, but also in the world.”
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WEF 2023: Global firms commit to invest, expand operations in PH, says Palace
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Marcos also said he met with various leaders — including WEF founder and chair emeritus Klaus Schwab, World Trade Organization director-general Ngozi Okonjo-Iweala, World Bank managing director for operations Axel van Trotsenburg, International Monetary Fund managing director Kristalina Georgieva, and former British Prime Minister Tony Blair.
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