Bongbong Marcos a good salesman of PH’s growth story, says economic team

ECONOMIC TEAM IN DAVOS: Trade and Industry Secretary Alfredo Pascual, Finance Secretary Benjamin Diokno, Socioeconomic Planning Secretary Arsenio Balisacan and Transportation Secretary Jaime Bautista hold a press briefing on the sidelines of the World Economic Forum annual meeting,

DAVOS – President Ferdinand Marcos Jr’s “timely” debut on the global stage as the new CEO of the Philippines via the World Economic Forum (WEF) has opened doors for more investments and partnerships that will create more jobs back home in the long run, the government’s economic team said.

In a press briefing on the sidelines of the WEF annual meeting, the economic managers reported that team Philippines led by the President had accomplished a lot in the initial days of their participation here, particularly by telling the Philippines’ success story and encouraging investors.

The team has met with various business, political and multilateral leaders during the first three days of the Jan. 16-20 WEF meeting held in the ski resort town of Davos at the foot of the Swiss Alps.

“Our real purpose is to sell the country – where we are now,” Finance Secretary Benjamin Diokno said in a briefing.

“That is why our participation in this Davos conference is very timely. First, this is the first time in three years that they have resumed a face-to-face meeting; and, secondly, we have a very nice story to tell after the pandemic,” Diokno said.

Marcos has told investors the Philippines could grow by 7 percent this year, the fastest pace in Southeast Asia, at a time that the global economy was widely expected to enter a recession.

For his part, Socioeconomic Planning Secretary Arsenio Balisacan said the challenge for the Philippines as an economy was articulating the good narrative about the country and key decision-makers abroad wanted to hear where the Philippines stand.

“And I think that interaction proves very useful because as I said, they would want to hear whether the story that’s emerging in the Philippines is sustainable. It’s a long-term one because if they come in, it is a long-term decision,” Balisacan said.

Investors are asking how the country is moving forward, what the policy concerns and issues are, the measures being undertaken to make the economy more attractive for investors, as well as the reforms being advanced by the administration.

“An important achievement that we have made here that, you know, [is that] we are able to tell and (they are able) to ask questions, that’s also the other important point there, [being] able to ask direct, pointed, quite frank questions on the economy, on our institutions and on policies,” Balisacan said.

Trade Secretary Alfredo Pascual said the President’s WEF attendance had catalyzed investors’ interest in areas such as digital economy, minerals processing, logistics and transport, as well as micro, small and medium enterprises.