The Department of Foreign Affairs (DFA) expressed optimism that President Ferdinand R. Marcos Jr.’s participation in the 32nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting in South Korea will open new avenues for the Philippines to attract more investments.
The 32nd APEC Summit, focusing on trade and economic cooperation, is being held from October 30 to November 2.
“Yes, there are opportunities for us to get more investments from the Republic of Korea,” DFA Spokesperson Angelica Escalona said during a Palace briefing.
When asked if corruption issues might affect investor confidence, Escalona said this was unlikely.
“We do not really see it, because what is happening now is an expression of our democracy. Interest in the Philippines on the economic side remains strong,” she said.
Escalona also addressed reports about a ₩700-billion infrastructure loan project to the Philippines allegedly halted by South Korean President Lee Jae-myung, saying the matter has been settled.
“The issue of the alleged loan is considered closed. The Republic of Korea has clarified and reassured us of its support for advancing development cooperation with the Philippines,” she said.
Escalona added that President Marcos will hold meetings with various business leaders and executives during his visit to South Korea.
