Finance Secretary Ralph Recto represents President Ferdinand R. Marcos and heads the Philippine delegation to the World Economic Forum (WEF) this year in Davos, Switzerland
House Speaker Martin Romualdez said the Philippine delegation to the WEF 2025 aims to secure sustained investments in the country to enhance its competitiveness, efficiency and sustainability.
“Our participation in WEF 2025 is a testament to the Philippines’ commitment to fostering collaboration, securing investments, and driving inclusive and sustainable development,” Romualdez said during a welcome lunch for the Philippine delegation in Davos.
The Davos WEF 2025 event has “Collaboration for the Intelligent Age” for its theme. Romualdez said the event provides an opportunity for the Philippines to showcase its resilience, innovation, and economic potential.
“Amidst the continued downside risks of fragmentation and conflict, there are still deals to be done and partnerships to be forged and strengthened,” the Speaker noted.
Secretary Ralph Recto, who was designated as the Special Envoy of President Marcos Jr. for the WEF, will play a pivotal role in engaging international partners to secure investments that target high-impact industries, logistics development, workforce enhancement, and expansion of artificial intelligence (AI) and financial inclusion initiatives.
Romualdez underscored the importance of capitalizing past successes and leveraging past achievements, including President Marcos’ introduction of the Maharlika Investment Fund (MIF) at WEF 2023.
“The WEF 2023 served as a springboard for the MIF, leading to its successful legislative enactment. The Philippines then used the WEF 2024 as an opportunity to build awareness of the country’s new sovereign wealth fund,” he said.
The Speaker also cited the Philippines’ hosting of the inaugural WEF Country Roundtable in 2024, where WEF President Borge Brende lauded the Philippines’ trajectory toward becoming a trillion-dollar economy within the next decade.
“Central to this objective is ensuring a sustained flow of investments in the country that will enhance the competitiveness, efficiency, and sustainability of the economy,” Romualdez said.
The WEF 2025 convenes nearly 3,000 global leaders, including heads of state, business executives, and policymakers from 130 nations, to spark dialogue and address critical global challenges.
Romualdez, meanwhile, commended the private sector’s increasing involvement in the WEF, citing their crucial role in driving reforms and fostering economic growth. “Our private sector must continue to champion reform and openness, working hand in hand with the government to spur inclusive and sustainable development,” he said.
As the global economic landscape grows more complex, Romualdez highlighted the importance of trust and collaboration among stakeholders.
“I look forward to strengthening our presence at WEF, building on our strong foundation, and forging partnerships that will drive economic growth and sustainability,” he shared. xxx