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Manila Bulletin devider Business devider PH eyed as gateway to Asia Pacific at WEF -- DOF

PH eyed as gateway to Asia Pacific at WEF -- DOF

Published Jan 16, 2023 04:51 pm

The Department of Finance (DOF) said on Monday, Jan. 16, that one of the selling points President Ferdinand R. Marcos Jr. will employ while meeting with world leaders in Davos, Switzerland, during the World Economic Forum (WEF) is to promote the Philippines as “driver of growth and a gateway to the Asia-Pacific region”.

A number of delegates from the economic team accompanied Marcos to ensure participants to the WEF Annual Meeting 2023 will take note of the country’s efforts to attract foreign investments.

The government’s lead economist, DOF Secretary Benjamin E. Diokno, is with Marcos in Switzerland since Jan. 15.

According to the DOF statement, to sell the Philippines as prime investment location, the economic team will focus on country’s “readiness to complement the regional and global expansion plans of both foreign and Philippine-based enterprises, which is anchored on its competent workforce.”

“As part of its recovery efforts, the Philippines has reopened its doors to invite investments into the country, through the enactment of its economic liberalization bills that make it easier for international firms to invest in previously protected sectors,” said the DOF.

And, apart from the country’s readiness for business, the DOF said Marcos will “also wishes to put an emphasis on people-centric efforts to ensure that the country is well-equipped to face the lingering socioeconomic effects of the pandemic and the occurrence of the next one.”

“Efforts at building resilient infrastructure, ensuring food security, and furthering clean and green energy to power the Philippine economy will also be discussed,” said the DOF.

The independent WEF since 1971 is a forum for top political, business, and other societal leaders in an annual discussion to help shape global, regional, and industry agendas. The current theme, for the 2023 meeting is “Cooperation in a Fragmented World”.

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