President Marcos explained that he has been going to different countries to propagate the changes in the Philippines and to ask potential foreign investors what they need for the country to become more investment-friendly.

Marcos said this as he embarked on his third trip to Singapore in the past year on Wednesday, Sept. 13.

During the Milken Institute's 10th Asia Summit Fireside Chat, the President shared that his overseas trips are meant to boost the different industries that could help the Philippine economy recover from the effects of the Covid-19 pandemic.

"This brings us to why we have now come here and have been going around the world to — not only to tout the changes that we have had in the Philippines but also to ask what is it that you think you need so that the Philippines becomes an investment-friendly place," he explained.

"We need to get investment into the system so that we can beef up and build up our manufacturing capabilities, and that is something that will require capital investment," he added.

Marcos has made 16 overseas trips since he assumed the presidency:

1. Jakarta and Bogor, Indonesia (State Visit, Sept. 4-6, 2022)
2. Singapore (State Visit, Sept. 6-7, 2022)
3. New York, USA (Working Visit, Sept. 18-24, 2022)
4. Singapore (Unannounced, Oct. 1-3, 2022)
5. Phnom Penh, Cambodia (Working Visit, Nov. 9-13, 2022)
6. Bangkok, Thailand (Working Visit, Nov. 16-19, 2022)
7. Brussels and Schaerbeek, Belgium (Working Visit, Dec. 12-14, 2022)
8. Beijing, China (State Visit, Jan. 3-6, 2023)
9. Davos and Zurich, Switzerland (Working Visit, Jan. 15-20, 2023)
10. Tokyo, Japan (Working Visit, Feb. 8-12, 2023)
11. Washington D.C., US (Official Visit, April 30-May 4, 2023)
12. London, United Kindom (Official Visit, May 5-6, 2023)
13. Labuan Bajo, Indonesia (Working Visit, May 9-11, 2023)
14. Malaysia (State Visit, July 25-27, 2023)
15. Jakarta, Indonesia (Working Visit, Sept. 4-7, 2023)
16. Singapore (Working Visit, Sept. 13-17, 2023)

He is also set to visit three cities in the US in November, including San Francisco in California, for the Asia-Pacific Economic Cooperation (APEC) Summit.

According to the President, the first concern they addressed was the uneven power distribution across the country.

"Our power generation was not sufficient or was not properly distributed. The prices were high," he said.

"We have also— at the same time, in trying to increase our supply of electricity— have to move the mix of fossil fuels to renewables. That's why we continue to court investment in that regard," he added.

Marcos likewise cited the changes the administration made in the system to address the ease of doing business in the country.

"The bureaucracy had gone a little bit out of control. That is something that we immediately have begun to address," he said.

"We have changed many of the rules, we have changed many of the systems, there has been actually amended legislation so that the tax incentives, the tax holidays, the tariffs, et cetera, the tariff structures have all been changed so that it is easier for our foreign investors to come in and to do business," he added.