WEF MEETING. Speaker Ferdinand Martin G. Romualdez (left) congratulates Vietnamese Prime Minister Pham Minh Chinh following the latter’s interview with World Economic Forum (WEF) founder Professor Klaus Schwab and Thomas on the second day of the WEF 2024 Annual Meeting in Davos Tuesday (Jan. 16, 2024/Switzerland time). The two leaders met last year during a bilateral meeting between President Ferdinand R. Marcos Jr. and the Vietnamese leader on the sidelines of the 43rd ASEAN Summit in Indonesia in September 2023. (Contributed photo)
MANILA – House Speaker Ferdinand Martin G. Romualdez on Tuesday (Switzerland time) met with leading sovereign fund managers and top government leaders on the second day of the 2024 Annual World Economic Forum in Davos.
Romualdez said the meeting opened avenues for mutually beneficial collaboration as his delegation seeks to attract more foreign investments, particularly through the Maharlika Investment Fund to fuel economic growth and create more jobs for Filipinos.
“These high-level engagements with international business leaders and policymakers in this years’ WEF annual meeting are invaluable as they provide us with opportunities to explore avenues for partnerships, collaborations, and investment opportunities to unleash the potential of the Maharlika Investment Fund for the benefit of the nation and our people,” Romualdez said in a statement.
Among the prominent figures Romualdez met on the sidelines of the WEF annual meet is Israfil Mamadov, Chief Executive Officer at the State Oil Fund of the Republic of Azerbaijan (SOFAZ). As of March 31, 2023, SOFAZ reported assets worth USD53.4 billion.
SOFAZ received the 2007 United Nations Public Service Award for Improving Transparency, Accountability, and Responsiveness in Public Service.
He also had a cordial meeting with Lim Boon Heng, chairman of Singapore state investment firm Temasek Holdings Limited, which was founded in 1974. It operates 11 offices worldwide, which has a corporate arm focused on investments and its portfolio. As of 2023, Temasek has a net portfolio of USD287 billion, with USD27 billion divested and USD31 billion invested during the year.
“The exchange of ideas, best practices, and insights on the management, investment policies, and insights on sovereign wealth fund could prove invaluable in helping realize the vision of President Ferdinand R. Marcos, Jr. for the MIF as a catalyst for our nation’s growth and development,” Romualdez said.
To recall, the MIF was introduced by President Marcos to the international community during the Fund’s soft launch at the 2023 WEF annual meeting.
Romualdez likewise met with his Swiss counterpart, Eric Nussbaumer, President of the National Council (Parliament) of Switzerland to further strengthen the ties between the two countries and discuss possible areas of enhanced partnership.
Among the possible areas of enhanced bilateral cooperation seen between the Philippines and Switzerland is in the energy sector, owing to Nussbaumer’s extensive experience in this field.
He also had a meeting with Vietnam Prime Minister Pham Minh Chinh, whom Romualdez earlier met when he accompanied President Marcos for a bilateral meeting with the Vietnamese leader on the sidelines of the 43rd ASEAN Summit in Indonesia in September last year.
President Marcos is scheduled to travel to Vietnam by the end of January for a state visit where he is expected to formally sign a rice supply deal.
Romualdez said these kinds of engagements show that the WEF is an excellent platform to engage with policymakers to promote cooperation but also to discuss global issues and contribute to policy debates to shape policies that address shared challenges and promote global cooperation. (PNA)
