President Ferdinand Marcos, Jr. departs for Davos, Switzerland on Sunday to attend the World Economic Forum from January 16-20. Marcos aims to “promote the Philippines as a leader, driver of growth and a gateway to the Asia Pacific region” to attract more investments at the WEF. Rolando Mailo, PNA
MANILA — The benefits of President Ferdinand Marcos Jr.'s attendance at the annual World Economic Forum meeting in Davos, Switzerland will be minimal, a former socioeconomic planning secretary said Wednesday.
Solita Monsod, professor emeritus at the University of the Philippines School of Economics, and former head of the National Economic and Development Authority, noted the government is bearing the cost of the trip of the Philippine delegation.
"Those benefits, they're very small because there were alternative ways of doing this. Hasn't the President ever heard of Zoom?" she told ANC's "Rundown".
Monsod also questioned why seven of the country's business tycoons also joined Marcos in Davos.
"These businessmen are going to spend lots of money because they are going to be hosting events for him," Monsod said.
"What is going to be the payback to them?" the former NEDA chief said.
"That's the cost to the Filipino people... It's not investments, it's favors, it's for their companies," she added.
The trip to Davos is also Marcos' 8th since assuming office in June.
"He just likes to travel, isn't that obvious? I mean, you are President for 7 months and you've left the Philippines 8 times, good God!" Monsod said.
"I don't know whether he's putting the Philippines' best face forward or he's putting his best face forward," she added.
Marcos is attending the WEF where he will present the Philippines as the next top investment destination.
The Department of Foreign Affairs also said Marcos would "soft launch" the proposed Maharlika Wealth Fund.
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