President Ferdinand R. Marcos, Jr. will promote the Philippines as a driver of growth and a gateway to the Asia-Pacific region at the World Economic Forum (WEF) Annual Meeting 2023.
Upon the invitation of founder and Executive Chairman Professor Klaus Schwab, the President and the economic team, led by Finance Secretary Benjamin Diokno, departed for Davos, Switzerland on January 15, 2023 to take part in the Annual Meeting.
Established in 1971, the Forum engages top political, business, and other societal leaders in an annual discussion to help shape global, regional, and industry agendas. It is an independent, nonprofit foundation that was recognized as a global platform for stakeholder engagement in 2015 when it made a ‘host state’ agreement with Switzerland to become the International Organization for Public-Private Cooperation.
The 2023 Annual Meeting — the first in-person meeting since 2020 — holds the theme of Cooperation in a Fragmented World. Therefore, the President will highlight the country’s progress in tackling the fissures caused by the fragmentation.
Foremost is the Philippines’ readiness to complement the regional and global expansion plans of both foreign and Philippine-based enterprises, which is anchored on its competent workforce.
As part of its recovery efforts, the Philippines has reopened its doors to invite investments into the country, through the enactment of its economic liberalization bills that make it easier for international firms to invest in previously protected sectors.
Apart from the country’s readiness for business, the President also wishes to put an emphasis on people-centric efforts to ensure that the country is well-equipped to face the lingering socioeconomic effects of the pandemic and the occurrence of the next one.
Efforts at building resilient infrastructure, ensuring food security, and furthering clean and green energy to power the Philippine economy will also be discussed.