Romualdez: Philippines WEF hosting to spur more foreign investments

MANILA, Philippines — Speaker Martin Romualdez has expressed optimism that the two-day World Economic Forum Country Roundtable would drive more foreign direct investments into the country, creating more jobs and livelihood opportunities for Filipinos.

“The WEF Country Roundtable amplifies our message of progress and prosperity, resonating with potential investors both at home and abroad,” Romualdez  said.

“It reinforces the narrative of the Philippines as a dynamic and resilient economy, ripe with opportunities for those willing to partner with us in our journey towards shared prosperity,” he said.

Among the participants in the WEF roundtable on the Philippines are top global executives from the private sector’s energy, infrastructure, finance, banking, telecommunications and marketing industries.

Romualdez hosted the cocktails for the members of the delegation of the WEF CEO Roundtable late Tuesday afternoon in the historic Laperal Mansion, which has been renovated by the Marcos administration and intended for use by visiting foreign leaders and dignitaries.

According to the Speaker, the event “magnifies the visibility of the Philippines as a prime destination for investment and underscores the commitment of the Marcos administration to fostering a conducive environment for economic growth and development.”

“Moreover, the WEF Country Roundtable serves as a platform for meaningful dialogue on pressing economic issues, enabling us to exchange insights with global leaders and glean valuable lessons that can further enhance our investment climate,” Romualdez said.

“By participating actively in these discussions, we reaffirm our dedication to sound governance, transparency and inclusive growth,” he added.

He noted that according to WEF president Børge Brende, the participation of president Marcos in the January 2023 WEF meeting created a lot of interest and optimism in the Philippines, with numerous companies wanting to know more about its investment prospects.

According to Brende, the Philippines could remain bullish if it continues its current policy reforms, upgrade infrastructure, as well as invest in renewables and other areas.

In his message before offering a toast to the WEF delegation and Philippine officials present, Romualdez underscored the solid and unwavering support of the House for the initiatives of the President   to open the country’s doors to foreign investments.

“Under my stewardship, the House not only met but exceeded expectations, securing 100 percent approval of the priority measures identified by President Marcos and the Legislative Executive Development Advisory Council three months ahead of our target date - our commitment definitely to opening up our economy to foreign direct investments,” Romualdez said.

He said the achievements of the House mirror the aspirations of the WEF, fostering innovation, nurturing economic growth and building resilient infrastructures to withstand global challenges.