Speaker Ferdinand Martin G. Romualdez is leading the Philippine delegation at the World Economic Forum Annual Meeting 2024 in Davos, Switzerland, which started Monday and ends Jan. 19.
The delegation aims to reinforce the Philippines’ standing as a premier investment destination, spotlighting the newly established Maharlika Investment Fund, Romualdez said in a statement.
“We are committed to leveraging this international platform to escalate the effort of the administration of President Ferdinand R. Marcos, Jr. to promote the Philippines as an attractive and secure investment destination, ultimately benefitting the Filipino people with more jobs and business opportunities,” he said.
In a letter dated Oct. 6, 2023, WEF President Borge Brende invited Romualdez to the Annual Meeting 2024.
The annual Davos meeting brings together key leaders from government, business — including the world’s top sovereign fund managers — and civil society to discuss and shape global, regional, and industry agendas.
“The leaders gathering in Davos would greatly value your insights, especially with the escalating geopolitical and geo-economic challenges present in the region and globally. Your active participation will also help strengthen the Filipino narrative and the country’s global standing in the eyes of the international community, providing rich opportunities for the country,” Brende said.
Ambassador and Permanent Representative to the World Trade Organization Manuel A.J. Teehankee endorsed the invitation, citing the Speaker’s key role in the successful passage of the MIF and its announcement and launching in Davos led by President Marcos in AM 2023.
Teehankee said AM2024 presents a unique opportunity to build on the positive momentum of President Marcos’ participation last year and maintain the interest of the Davos community in the opportunities in the Philippines as one of the fastest-growing economies in the world.
During his interaction with the AM2024 participants, Romualdez is also expected to highlight crucial legislative reforms and ongoing initiatives under the Marcos administration to enhance the business climate and position the Philippines as an attractive environment for foreign investments.
Apart from attending the various sessions of the AM2024, Romualdez is also expected to have bilateral meetings with some of the participating world and business leaders.
“We are confident that our engagement with some of the world’s top business leaders and political leaders would generate significant interest and recognition of our Maharlika Investment Fund as a compelling platform for direct foreign investments. This, in turn, can contribute significantly to the country’s economic growth and job creation for our people,” Romualdez said.
“We also hope to learn from the best practices of the world’s leading sovereign wealth fund and utilize such valuable inputs to ensure the growth and success of our own Maharlika Investment Fund,” he added.
He stressed the WEF also presents a conducive environment to foster strategic partnerships with global leaders and facilitate collaborations that can drive economic development and enhance the global competitiveness of the Philippines.
