PH seeks to win over investors at world forum

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Philippine representatives to the World Economic Forum (WEF) this week will use the platform to attract investments in specific industries.

The Department of Finance said in a statement yesterday the added investment inflow must generate more employment for Filipinos, increase their incomes and cut the poverty rate to ensure meaningful and inclusive economic progress for the country. 

Finance Secretary Ralph Recto said he intends to engage international partners on high-impact industries that will boost the Philippines’ logistics backbone and the country’s workforce, as well as expand Artificial Intelligence (AI) and financial inclusion initiatives.

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Recto has been named special envoy of the president and head of the Philippine delegation to Davos-Klosters, Switzerland. The economic forum will run from January 20 to 24, 2025.

Joining him in Davos are Trade Secretary Ma. Cristina Roque and House Speaker Martin Romualdez.

“This year’s WEF presents a unique platform to showcase the Philippines as a dynamic and resilient economy, driven by innovation and inclusivity. Our participation underscores our commitment to strengthening international partnerships that uplift Philippine industries to thrive in the global marketplace,” Roque said in a separate statement.

The 2025 WEF Annual Meeting will convene nearly 3,000 global leaders, including heads of state, government officials, business executives and influential figures from international organizations across 130 nations. 

The Philippine delegation will showcase the country’s promising potential as the next big investment destination, especially with the recent enactment of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act, the DOF said.

Recto is meeting with global bankers, manufacturers and technology companies to discuss possible investment and expansion opportunities.

He is also taking part in the Asean Leaders for Just Energy Transition Forum, engaging in collaborative action to advance the region’s shared commitment toward an equitable and fair transition to clean energy.

Part of the finance chief’s tasks at the forum is to represent the Asia Pacific Region during a working lunch with economic forecasters who will discuss scenarios for 2025, and learn about current trends that could shape the economy. 

Meanwhile, Roque said her engagements at the WEF will center on promoting the Philippines’ economic priorities and advancing the administration’s agenda for micro, small, and medium enterprises or MSMEs as well as sustainability and digital transformation.

Her itinerary will include bilateral meetings with multinational companies, leaders, and government counterparts to discuss potential collaborations.

She will also join panel discussions on trade and investment, innovative trade financing, digital economy agreements, and industry strategies for adopting digital solutions and sustainable practices.

“I am honored to represent the Philippines at these crucial discussions to highlight our strategic priorities, including the diversification of exports and the digitalization of our local industries,” Roque said.

The WEF is the International Organization for Public-Private Cooperation. It provides a global, impartial and not-for-profit platform for meaningful connection between stakeholders to establish trust, and build initiatives for cooperation and progress.

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