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DTI chief presents PH as Asia's next investment destination at WEF

DTI Secretary Alfredo Pascual (Photo courtesy: DTI)

QUEZON CITY, (PIA) -- Department of Trade and Industry (DTI) Secretary Alfredo Pascual has presented the Philippines as the next investment hub in Asia at the World Economic Forum (WEF) Annual Meeting 2023 in Davos, Switzerland.

Sec. Pascual said he met with senior executives of companies with business interests in the Philippines including Coursera, Chevron, Astranis, and She Loves Tech, in a report by the Philippine News Agency.

"We met with several business executives and presented our country as an ideal investment destination in Asia. Similarly, we shared with them our improved business climate, which was fueled by the recent economic policy reforms that facilitate ease of doing business," Pascual said.

The DTI chief also met with WEF executive committee members and head of International Trade and Investment to discuss potential cooperation with the Philippines.

During the five-day WEF meeting, Pascual will be joining the sessions on MSMEs Going Global, Next Generation Industrial Strategies, and Trade and Investment Leadership Lunch.

Pascual, along with other economic managers, will be joining President Ferdinand R. Marcos Jr. in the CEO Dialogue on the Philippines, which will highlight the government's programs on energy, food security, and digitalization.

"We see WEF as an opportunity to gather more FDIs (foreign direct investments) that will complement our country's economic recovery initiatives," he said.

During the Laging Handa public briefing, National Economic and Development Authority (NEDA) Undersecretary Rosemarie Edillon pointed out that the WEF is a good platform for the Philippine government to highlight its initiatives in working with the private sector to achieve economic growth momentum.

"What we can promote is the way we engaged with the private sector, which is also among the top priorities at the World Economic Forum. So, when we weathered this COVID-19 pandemic, we have seen that the private sector has engaged with the government, and the LGUs (local government units) also coordinated with their own private sector," she said. (PIA-NCR)

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Jimmyley Guzman

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