NextGen Day

In order to accelerate “digitalization,” as President Ferdinand Marcos Jr. underlined at the World Economic Forum (WEF) Annual Meeting 2023 in Davos, Graubünden, Switzerland, House Speaker Ferdinand Martin Romualdez on Thursday pledged to engage with other lawmakers.

Romualdez claimed that Marcos had prioritized “digitalization” as a means of maintaining the momentum of the nation’s economic progress.

Marcos highlighted the significance of digitization as a vital driver for the long-term development and economic transformation of the Philippines to the post-pandemic global economy in his opening remarks at the Country Strategy Dialogue on Tuesday.

The steps for digitalization in both public and private transactions that would increase efficiency, productivity, and security are still priorities for the House of Representatives, according to Romualdez.

The construction of the framework for digital transformation, according to Romualdez, who is a member of President Marcos’ official delegation to the WEF, “would surely serve to boost the possibility of the Philippines as an investment hub” that Marcos has successfully developed in Davos.

“The passage of the E-Government and E-Governance Act, which would assist expedite our digital transformation and drive growth momentum, is among the top priorities of the House upon the resumption of the session,” he said.

Borge Brende, the president of the WEF, and Marcos had a one-on-one conversation in which Marcos emphasized the enormous potential of digitalization to spur economic growth.

Marcos’ agenda for digital transformation also gained momentum when WEF founder and executive chairman Professor Klaus Schwab extended an invitation to the Philippines to join a center the WEF is setting up that is focused on working with and sharing the most recent technologies that could aid economies in developing.

The Maharlika Investment Fund law and 20 other Marcos administration priority bills were among the pro-people initiatives that the House promised to adopt before it broke for the holidays, according to Romualdez.

He added that they make a lot of effort to pass the last few priority measures from Marcos that was listed in the Common Legislative Agenda approved by the Legislative-Executive Development Advisory Council.

Romualdez claimed that the enthusiasm that the sovereign wealth fund has sparked among the Davos attendees has encouraged him.

Romualdez said, “I believe we would be well on our way towards establishing a sovereign wealth fund to support the implementation of big-ticket infrastructure projects, particularly in energy and agriculture, given the keen interest shown by investors and policymakers alike in the Maharlika Investment Fund.

On December 15, 2022, the House passed House Bill 6608, establishing the MIF.

In order to support the Philippine government’s development goals, Morgan Stanley, a global investment business, pledged to invest there on Wednesday, according to a statement from the Presidential Communications Office.

On the fringes of the WEF in Davos, President Marcos had a meeting with Mr. Gokul Laroia, Chairman for Asia Pacific of Morgan Stanley.

Laroia asserted that Marcos is on the right track in involving the private sector, particularly in building the nation’s infrastructure, and that the government’s proposed sovereign wealth fund becomes intriguing given that many infrastructure expenditures will be made over the long term.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

📩 Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---