Marcos to show PH 'open for business' in attending World Economic Forum: economist

Raffy Cabristante, ABS-CBN News

Posted at Jan 16 2023 07:56 PM | Updated as of Jan 17 2023 08:31 AM

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MANILA — President Ferdinand Marcos Jr.'s attendance at the annual World Economic Forum (WEF) meeting in Davos, Switzerland is meant to show the global market that the Philippines is "open for business," an economist said Monday. 

In a public briefing, Filipino-Canadian economist Michael Batu said that Marcos can promote the country's "well-managed" economy recovering from the effects of the COVID-19 pandemic.

“Puwedeng i-showcase ng ating Pangulo iyong performance ng ating economy, at siyempre may mga investment opportunities na kung saan ay manghihimok nga ang ating ng Pangulo ng mga foreign investments papunta sa ating bansa,” he said.

Batu noted that through the WEF meeting, Marcos Jr. can learn best practices from world leaders on how to handle sovereign wealth funds, as he plans to "soft launch" the controversial Maharlika Investment Fund during the event.

“At siyempre puwede rin pong i-promote ang ating bansa bilang isang tourist destination, at siyempre nabanggit nga ng ating Pangulo na magkakaroon nga ng soft launch na tinatawag itong Maharlika Investment Fund," he added.

Marcos on Monday morning (Manila time) arrived in Davos to attend the meeting, which he said was upon the invitation of WEF founder and chairman Klaus Schwab.

This is his 8th foreign trip since assuming the presidency last June. 

The Philippines is the sole member-state of the Association of Southeast Asian Nations (ASEAN) attending the meeting. 

Among the main topics expected to be discussed by the WEF are the Russo-Ukrainian War, climate action, as well as health and society.