Saturday, September 23, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home News

Davos trip gains investment interest from 9 int’l firms

Maricel CruzVince LopezbyMaricel CruzandVince Lopez
January 20, 2023, 1:25 am
in News, Top Stories
Reading Time: 5 mins read
A A
Share on FacebookShare on TwitterShare on Email

Nine multinational companies have signified interest in investing or expanding their operations in the Philippines after their top executives met with President Ferdinand Marcos Jr. at the World Economic Forum (WEF) in Davos, Switzerland, Finance Secretary Benjamin Diokno said Thursday.

QUEST FOR BUSINESS. Speaker Ferdinand Martin Romualdez and Special Assistant to the President Secretary Antonio Lagdameo engage CNN anchor and correspondent Richard Quest in an animated conversation Wednesday during the sidelines of the World Economic Forum in Davos, Switzerland. Ver Noveno

Diokno and other economic managers who accompanied the President to the forum said they are confident that his participation and meetings with top international chief executives would bring economic gains to the country.

Trade Secretary Alfredo Pascual said among the nine companies interested in investing here is Astranis, a US provider of low-orbit satellites used for internet access.

He said such a service would provide connectivity to areas that are not yet connected through the main telecommunications providers.

On Wednesday, Marcos also met with executives from Morgan Stanley, which is set to open an office in Manila.

Gokul Laroia, chairman for Asia Pacific at Morgan Stanley told Marcos that the top global investment bank would set up an office in Manila, and said the President is on the right track in involving the private sector, especially in developing the country’s infrastructure.

When issues on government policy are addressed, private sector participation automatically happens, particularly by raising capital, Laroia said.

“Because you know there’s a lot to work with in the Philippines, as you said, the supply side dynamics need to improve,” Laroia said.

“We’re seeing some evidence of diversification of supply chains, the need to have the infrastructure benefit from that. So all of these can be a vicious cycle,” the Morgan Stanley official said.

Mr. Marcos also met with executives from a Dubai-based multinational logistics company, DP World. The company is said to be considering setting up an industrial park in Clarkfield, Pampanga.

Sultan Ahmed bin Sulayem, group chairperson and chief executive officer of DP World, told Marcos during the meeting that the logistics company has been developing industrial parks in many countries, including Senegal, Egypt, India and Pakistan.

“We are committed to investing in the Philippines; we’re committed to expand,” Bin Sulayem told the President. “So we’re interested in the Philippines, in industrial parks.”

The President also met with officials from Glencore, a multinational mining company.

“We’ve accomplished much. We had meetings with various top leaders and businessmen during our opening session with the President,” Diokno said in a mix of English and Filipino. “The purpose was really to sell the country.”

He added that the country’s participation in Davos was timely in the wake of the post-COVID-19 recovery.

“We have a very nice story to tell—our situation after the pandemic,” he said.

Socio-economic Planning Secretary Arsenio Balisacan said potential investors want to be assured that the country can sustain its economic growth before doing business in the Philippines.

Senator Mark Villar expressed confidence that Marcos’ trip to Switzerland will attract more investments in the country.

“If we secure additional investments, there will be more job opportunities in our country which will pave the way for the further development of our economy,” he said in Filipino.

During the High-Level Dialogue on Investing in Infrastructure for Resilience at the WEF, Marcos said the Philippine government is taking a “proactive” approach and creating policies that will boost investors’ confidence.

“We aim to raise the confidence of investors, especially those that will benefit the social sectors of health, education and agriculture. For this reason, we have taken a proactive approach,” Marcos said in his keynote speech.

Marcos acknowledged the crucial role of the private sector in helping his administration develop the country’s infrastructure.

With the help of partners from the private sector, the Philippine government’s goal to transform the Philippines into an “equitable, prosperous and resilient” nation by 2040 is attainable, Marcos said.

Marcos said crafting several strategies, including the creation of the Private Sector Advisory Council (PSAC), will enable the government to sustain the Philippines’ economic growth.

He noted that the recent amendments to the Build-Operate-Transfer (BOT) Law address concerns about the financial viability and bankability of public-private partnerships, as well as on the potential delays that might impede infrastructure projects.

He said pursuing “climate-resilient” infrastructure programs and projects is also a “top priority”, adding that the government has allocated around 9 percent of the national budget to support “conservation, climate change adaptation, and disaster risk reduction.”

“Whether natural or man-made, such disruptions and breakdowns have catastrophic indications for global businesses,” Marcos said.

“We have formulated many strategies so we can position the Philippines properly for the development and evolution of the new global economy,” he added.

Speaker Ferdinand Martin G. Romualdez said the President was doing a yeoman’s job at the WEF of driving more investments to the Philippines to boost the momentum of growth and improve the lives of the Filipino people.

“No less than Borge Brende, the president of the WEF, recognized the sustained effort President Marcos displayed in this forum to showcase the Philippines’ remarkable story and outline the path his administration is taking to welcome more foreign investments into our country,” Romualdez said.

Romualdez was referring to Brende’s comments in his dialogue with President Marcos, which was among the key events in the WEF.

“Mr. President Marcos, it’s great to have you here. I know you worked extremely hard today. I think I have seen you already three or four times and I know we have had so many sessions,” Brende said at the outset of their conversation.

Romualdez noted that like other attendees to the WEF, Brende was impressed with the performance of the Philippine economy despite the slowdown in many parts of the world.

“But even more importantly, the President was able to clearly convey his strategy for sustained growth and the peculiar advantages of the Philippines that would engender investor confidence in the realization of such an objective,” Romualdez said.

Tags: Benjamin DioknoDavosMartin RomualdezWorld Economic Forum
ADVERTISEMENT
Maricel Cruz

Maricel Cruz

Vince Lopez

Vince Lopez

Related Posts

NCR suspends classes amid smog blanket; not vog, says Phivolcs

byJoel E. Zurbanoand4 others
September 23, 2023, 2:15 am
0
8
NCR suspends classes amid smog blanket; not vog, says Phivolcs

Local government units in Metro Manila suspended classes at all levels yesterday due to heavy smog, which most mistook for...

Read more

Marcos cutting validation time for imported rice to 7 days

byCharles Dantes
September 23, 2023, 2:10 am
0
8

President Ferdinand Marcos Jr. on Friday said the government no longer wants to wait 15 days for rice importers to...

Read more

Inflation top issue in Q3, but execs downplay survey

byJoyce Pangco Pañaresand2 others
September 23, 2023, 2:05 am
0
8
Vax wastage, infection surge feared in Odette-hit areas

The rising prices of basic goods and inflation as well as the country's economic performance are the top important issues...

Read more

China denies coral damage; DOJ, SolGen to talk WPS case

byRey E. Requejoand2 others
September 23, 2023, 2:00 am
0
8
Southwoods nails Seniors’ Fil golf crown

China on Friday denied it was involved in the destruction of coral reefs in parts of the West Philippine Sea,...

Read more

Sigh of relief: Fuel prices rolled back next week

byManila Standard
September 23, 2023, 1:55 am
0
8
NCR suspends classes amid smog blanket; not vog, says Phivolcs

Consumers can heave a sigh of relief next week as fuel prices are expected to go down after 11 consecutive...

Read more

Solon: Ban POGOs via legislation

byMaricel Cruz
September 23, 2023, 12:35 am
0
8
DDR passage tops Salceda wishlist

Albay Rep. Joey Sarte Salceda on Friday said that banning Philippine offshore gaming operators or POGOs has to be done...

Read more

Print Edition

View More

Recent Posts

  • NCR suspends classes amid smog blanket; not vog, says Phivolcs
  • Marcos cutting validation time for imported rice to 7 days
  • Inflation top issue in Q3, but execs downplay survey
  • China denies coral damage; DOJ, SolGen to talk WPS case
  • Sigh of relief: Fuel prices rolled back next week
  • PH-China Ties
  • Dangers, consequences of digital piracy
  • Study: AI both a risk, opportunity for journalism

Advertisement

Latest News

PH-China Ties

byManila Standard
September 23, 2023, 1:50 am
0
8
NCR suspends classes amid smog blanket; not vog, says Phivolcs

Vice President Sara Duterte is shown on a video wall speaking in Mandarin as she greets the Chinese government on...

Read more

Dangers, consequences of digital piracy

byManila Standard
September 23, 2023, 1:10 am
0
8
Dangers, consequences of digital piracy

Imagine a world without authors, writers, content creators, editors, and artists today. One might ask, “Why do I have to...

Read more

Study: AI both a risk, opportunity for journalism

byManila Standard
September 23, 2023, 1:05 am
0
8
foodpanda, TabSquare to offer AI-driven tech to restaurants

LONDON—AI is both a threat and an opportunity for journalism, with more than half of those surveyed for a new...

Read more

foodpanda, TabSquare to offer AI-driven tech to restaurants

byManila Standard
September 23, 2023, 1:00 am
0
8
foodpanda, TabSquare to offer AI-driven tech to restaurants

Online food and grocery platform foodpanda and software company TabSquare are joining hands to empower restaurants with artificial intelligence (AI)-powered...

Read more

Tech it Easy: AI-powered gadgets you need today

byPaola Navarette
September 23, 2023, 12:55 am
0
8
AI revolution in video games has industry players treading warily

If the past few years taught us anything, it is that technology is constantly evolving and changing. Be honest: Did...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Pets
  • Tech
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Cravings
  • Environment & Sustainability
  • Agriculture
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Gallery
    • Photos
    • Videos
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App