PH Showcases Top Economic Performance and Development Plans at the World Economic Forum Annual Meeting

President Ferdinand R. Marcos, and the DFA Office of the Undersecretary for Multilateral Affairs and International Economic Relations team led by Undersecretary Carlos D. Sorreta (5th from left) and Assistant Secretary Eric Gerardo E. Tamayo (4th from right) after the conclusion of the WEF Annual Meeting 2023.

ZURICH 26 January 2023 – President Ferdinand R. Marcos led his economic team and the Philippine delegation at the World Economic Forum (WEF) Annual Meeting 2023 held in Davos-Klosters, Switzerland on 16 – 20 January 2023 to present the positive state of the Philippine economy as seen in its growth rate topping the region’s, resilient COVID-19 recovery, and strong performance in key sectors despite the global economic downturn.

In his interventions and remarks, the President highlighted the Philippines’ structural reforms, liberalization agenda, refinements to its public-private partnership policies, and the administration’s economic priorities as agents to facilitate and promote the Philippines as a lucrative investment destination and a global economic player. The President reiterated his call for cooperation not only among world leaders but also with the private sector, civil society, international organizations, and other stakeholders to attain food and energy security, digital transformation, and climate action in a resilient, inclusive, and sustainable manner. 

In heading the panel sessions on Nutrition Security and Investing in Infrastructure for Resilience, the President highlighted the Philippine initiatives in these areas, including the flagship “Build, Better, More” for climate-resilient infrastructure, logistics, and connectivity that would address the urgent gaps in supply chains, food and nutrition, green energy supply, among others. The President also called for inclusive policies in digital transformation, highlighting the need for micro, small and medium enterprises (MSMEs) to participate in the digital economy and for cybersecurity issues to be addressed. The President emphasized the administration’s willingness and the country’s openness to partner with businesses and other stakeholders on projects that will benefit the Filipino people. 

President Marcose, likewise, met with business leaders to pitch for business venture and expansion opportunities in the Philippines, and with international organization leaders to identify areas to align economic priorities and discuss ways to collaborate to further accelerate economic growth and address fundamental global issues, including supply chain disruptions, development challenges, and climate change. The President and his economic team took the opportunity to present the country’s pioneering sovereign wealth fund as a means to achieve long-term financial stability while generating various welfare effects to Filipinos.

In his engagements with the WEF Chair and organizers, the President expressed support for WEF’s overarching goals, and many of its initiatives, especially those that align with the Philippines’ development agenda.

The theme of the WEF Annual Meeting this year is Cooperation in a Fragmented World. END

President Ferdinand R. Marcos leads the Philippine economic team to hold an economic briefing (left) and delivers remarks as a panelist in one of the WEF meetings. (PCOO photos)