Speaker Romualdez: PH promoted in Davos as prime investment hub

THE Philippine delegation to the World Economic Forum (WEF) led by President Ferdinand “Bongbong” R. Marcos Jr. in Davos, Switzerland, has successfully showcased the country as a premier investment hub to attendees of the prestigious international conference.

This is according to Speaker Martin G. Romualdez, a part of the delegation to Davos, as he bared that multinational companies have already expressed interest to invest in the Philippines.

“I think the delegation that came to Davos actually impressed the Davos attendees. (The)… substantial delegation actually demonstrated how the Philippines, the President, his official family, the economic managers, alongside the top businessmen and women, showed a united front to the entire world. It really impressed and was not lost in Davos,” Romualdez said.

“So people took notice of it and said that it’s obvious that the Philippines is back. We are open for business, we are here listening and we are inviting everyone to see why the Philippines would be the best destination to invest,” he added.

He disclosed that big multinational companies such as investment giants Morgan Stanley, BlackRock, Ferrovial and Sequoia, among others, are already eyeing setting up shop in the country not only because of the ideal investment climate but also due to the competencies of Filipino workers.

“So the list goes on. It’s just an amazing experience to have the Philippines in Davos, it is an event in itself,” Romualdez said.

“Because it goes to show you that the Philippines, being the star of this year especially in this Davos conference, will definitely show the world that not only are we open for business but… under the leadership of President Marcos, leading the Filipinos, the best workers in the world are here,” he added.

The Leyte lawmaker also noted that a lot of interest was shown in Davos in the Maharlika Investment Fund as envisioned in the bill that the House of Representatives recently passed on third and final reading.

Romualdez is the principal author of the House version of the bill, while Senator Mark Villar – also a part of the delegation to Davos – authors a similar bill filed in the Senate.

“So we demonstrate at the WEF and to the world that the President is joined with his economic managers in the Executive alongside with the leaders from the Legislature and we are working and marching in lockstep with him,” Romualdez said.

He added that lawmakers in the Philippine delegation to the WEF were “listening to the concerns and to the sensitivities” of potential investors to ensure the sovereign wealth fund conforms with the best practices in the international investment environment.

This is necessary, according to Romualdez, so Congress can “legislate properly, effectively and with sensitivity” to ensure the best terms of returns in the fund to support development of projects in the Philippines focusing on agriculture, power and transportation, among others.