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PH to benefit from WEF meeting’s business and collaboration prospects.

According to an economist on Wednesday, the Philippine delegation’s attendance at the World Economic Forum (WEF) annual meeting in Davos, Switzerland, will probably bring portfolio investments and foreign direct investments (FDIs) to the nation.

Michael Ricafort, the chief economist at Rizal Commercial Banking Corporation (RCBC), noted that opportunities to advance technical advancements in the nation are also anticipated to present themselves through the WEF.

This is an opportunity that should never be missed when it comes to ties, linkages, and relationships with the most powerful country, the biggest businesses, and also the experts, he said in a Laging Handa briefing.

According to Ricafort, the Philippines and advanced economies may work together on FDIs and foreign portfolio investments, also known as “hot money” because of how quickly they enter and exit an economy.

The second reason, according to him, is connections with the largest global corporations, who can invest money in the Philippines or extend their current activities here.

According to him, representatives from multilateral organizations are anticipated at the event. The Philippines is expected to benefit from this, as these organizations are a source of funding for the nation, providing concessional loans with longer terms and lower interest rates for a variety of projects, including infrastructure.

He claimed that any potential technical support from these organizations would be beneficial to the nation, particularly in the case of initiatives to transfer technology and boost production that aim to solve issues like inflation, food security, and enhanced productivity.

“It’s bihira lang po, at least once a year, and kari-resume lang po going forward. Iyon po kasi ang bottom line ng lahat ng iyon; ang trabaho po talaga ng pamahalaan ay manghikayat pa po ng maraming investment para maglikha po ng maraming trabaho. This is a unique chance, and it has just started again. The event is held at least once a year. It is the duty of the government to promote more investment in order to increase employment. The basic line is that,” he stated.

Currently in Davos for his first annual WEF gathering, President Ferdinand R. Marcos Jr.

Marcos promised to discuss the country’s efforts to overcome fragmentation, including the government’s desire to collaborate with peers around the world, before he left.

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