DAVOS, Switzerland - President Ferdinand Marcos Jr accomplished a lot during the World Economic Forum (WEF), including wooing 9 multinational firms to invest in the country, Finance Secretary Benjamin Diokno said on Thursday.
Economic managers of the Marcos Jr administration said they are confident that Marcos' WEF participation, as well as his meetings with top international CEOs and the introduction of his administration’s sovereign wealth fund, will lead to economic gains for the country.
According to the officials, at least 9 international firms have so far signified interest in either investing or expanding their operations in the Philippines at the sidelines of the Forum.
Among these companies is Astranis, a US-based provider of low-orbit satellites for purposes of access to the internet, Trade Secretary Alfredo Pascual said.
“They’re interested in bringing their operation to the Philippines. And what that will do is be able to provide connectivity to areas which are not yet connected at the moment through the main providers in the Philippines,” he said.
On Wednesday, Marcos also met with representatives of American investment firm Morgan Stanley, who are set to open an office in Manila.
The Chief Executive also held talks with Dubai-based multinational logistics firm DP World. In a release, Malacanang said during the meeting that the firm has expressed commitment to expand its operations in the Philippines and is currently eyeing to set up an industrial park in Clarkfield in Pampanga.
The DTI said Marcos also met with multinational mining firm Glencore.
“Maraming na-accomplish. We have meetings with the various—saka maraming top leaders dito saka businessmen na during our opening session with the President, naipaliwanag naman natin iyong Philippine economy. Ang purpose talaga nito is to sell the country – nasaan tayo, ganoon,” Diokno told reporters in a press briefing.
(A lot has been accomplished. There are a lot of businessmen, we were able to explain the status of the Philippine economy. The purpose of this really is to sell the country)
“Kaya very timely itong pag-participate natin sa Davos conference na ito, unang-una, kasi tatlong taon silang sarado so first time na face-to-face; and secondly, we have a very nice story to tell – iyong anong sitwasyon natin after the pandemic. So iyon ang magandang pinunta namin dito," he added.
(That's why the participation in Davos is very timely since first of all, after 3 years of being closed, this is the first time its face-to-face and secondly, we have a very nice story to tell - our situation after the pandemic. That's what's good about being here)
NEDA Chief Arsenio Balisacan said potential investors want to be assured that the country can sustain its economic growth before eventually deciding to do business in the country.
“It’s a long-term one because if they come in, it is a long-term decision," Balisacan said.
Balisacan added that investors have been asking a lot of questions about economic policy.