House Speaker Martin Romualdez on Friday said the Philippine delegation to the World Economic Forum (WEF) in Switzerland impressed Davos attendees and will benefit the country in the long-term.
“I think the delegation that came to Davos actually impressed the Davos attendees. Substantial delegation actually demonstrated how the Philippines… the President, his official family, economic managers, alongside the top businessmen and women in the Philippines, showed a united front to the entire world. It really impressed them,” Romualdez said when asked by the media about criticisms on the size of the delegation to Switzerland.
“So people took notice of it and said that the Philippines is back, we are open for business, we are here listening and we are inviting everyone to see why the Philippines will be the best destination to invest in and we’ve heard already from Morgan Stanley, a top investment banker, that’s setting up an office in Manila this year,” Romualdez pointed out.
According to Speaker Romualdez, a number of companies, such as the biggest infrastructure corporations, multinationals, and fund managers, are now looking at the Philippines as an investment destination following President Ferdinand R. Marcos Jr.’s participation in the WEF.
“And it is [an] amazing experience, and to have the Philippines in Davos is an event in itself. It was showing off Philippines being a star,” the House speaker said.
“The Davos conference will definitely show the world that we are open for business, that the country, the Philippines, under the leadership of President Marcos leading the Filipinos, the best workers in the world are here,” Romualdez stressed.
Romualdez added, he is open to addressing the questions and queries of government critics, stressing that his attendance at the WEF is part of the work of the executive and legislative branches of government, particularly in establishing the planned sovereign wealth fund.
The legislature is supportive of the Marcos administration, Romualdez said, noting that, for instance, the Maharlika fund, which they passed in the lower house, was a topic of discussion and interest.
“It is the vehicle that most countries, not just developed countries but developing countries, utilized to attract investments for development, for infrastructure projects that need capital investments into these ventures,” Romualdez said.
“And this will guarantee solid returns, not just for the local investors, but of course, for the international investors from which we’ve already received substantial interest,” the House Speaker said. #
