PRODUCTIVE ENGAGEMENT. House Speaker Ferdinand Martin G. Romualdez (center) delivers his message during the welcome lunch for the Philippine delegation to the World Economic Forum (WEF) Annual Meeting 2024 at the Grandhotel Belvedere in Davos, Switzerland Monday (Jan. 15, 2024, Switzerland time). He said the delegation will strive to make their engagements productive and ultimately beneficial to the Philippines and the Filipino people. (Photo courtesy of Speaker Romualdez’s office)
MANILA – The Philippine delegation to the 2024 World Economic Forum (WEF) will work to “keep the flames burning” and ensure that the message of President Ferdinand R. Marcos Jr. imparted last year continues: that the Philippines is open for business and it is the best place in the region for foreign investments.
“We want to reiterate the message so it is not lost. We will repeat the message that the Philippines is open for business, we are strong, and we are united,” Speaker Ferdinand Martin G. Romualdez said Monday afternoon (Switzerland time) during the discussions at the welcome lunch for the Philippine delegation at Grandhotel Belvedere in Davos.
“(We have) great fundamentals: the macro figures are fantastic. We are in the fastest growing region, we are the bright spot amid the global recession that we are suffering from. And within that bright spot, we look at the Philippines as the best country to invest in,” he added.
According to WEF’s 2024 Chief Economist Outlook, majority of chief economists expect the global economy to weaken over the next year with the most buoyant economic activity still expected in South and East Asia.
The leader of the House of Representatives noted that the Philippines enjoys a very stable government, with a strong and very popular leader in President Marcos who is pursuing a vision of fostering an inclusive, resilient, and sustainable growth trajectory for a thriving society.
He also highlighted efforts to make the Philippines more investor-friendly, particularly the move to relax the restrictive provisions of the 1987 Constitution.
On Monday, Senate President Juan Miguel Zubiri filed Resolution of Both Houses No. 6 “proposing amendments to certain economic provisions of the 1987 Constitution,” saying the nation’s economic policy must be reframed under the demands of this increasingly globalized age.
“It would be a welcome development for our trade partners. So, this is no longer a concept or a desire, just like the Maharlika (Investment Fund) was. It proves that ‘we walk the talk.’ When we talk about opening up our economy, then we actualize it through acts that are clearly tangible. Again, thanks to the leadership of the Marcos administration,” Romualdez said.
WEF head of Business Engagement for the Asia-Pacific Clara Chung, WTO Permanent Representative Ambassador Manuel A.J. Teehankee, Philippine Ambassador to the Swiss Confederation and Principality of Liechtenstein Bernard Faustino Dy, and other affiliates welcomed the Philippine delegation.
Following the welcome luncheon, Romualdez was formally welcomed to the Forum by WEF President Borge Brende at the Congress Center in Davos. The opening day of the WEF culminated with the Crystal Awards rites in the evening and a welcome concert.
Members of the Philippine delegation include Energy Secretary Raphael Lotilla and Maharlika Investment Corporation President and Chief Executive Officer Rafael Jose Consing Jr. and Tingog Party-list Rep. Yedda Marie Romualdez. (PNA)
