Trade Secretary Alfredo E. Pascual said he pitched the country’s “improved business climate” to several business executives of companies, such as Coursera and Chevron, during the World Economic Forum (WEF), which, he said, was fueled by the recent economic reforms that facilitate ease of doing business.
“We have met with several business executives and presented our country as an ideal investment destination in Asia. Similarly, we shared with them our improved business climate, which was fueled by the recent economic policy reforms that facilitate ease of doing business,” Pascual said.
The trade chief added that the Philippines sees the WEF as an opportunity to gather more foreign direct investments that will complement the country’s economic recovery initiatives.
In a news statement issued on Tuesday, the Department of Trade and Industry (DTI) said Pascual held a series of bilateral meetings on Monday with senior executives of companies with business interests in the Philippines, such as Coursera, Chevron, Astranis, and She Loves Tech.
Pascual also met with WEF’s Executive Committee member and Head of International Trade and Investment to discuss potential partnerships with the Philippines, the DTI statement reported.
The companies mentioned are in areas of education, energy, internet connectivity and start-ups or entrepreneurs.
Coursera is a US-based global online learning platform that offers online courses and degrees from “world-class” universities and companies. Chevron Corporation is an American multinational energy corporation. Meanwhile, Astranis is also a US-based internet connectivity firm and She Loves Tech is an international non-profit organization, which is committed to “closing the funding gap for women-led and women impact entrepreneurs.”
Meanwhile, DTI also reported that Pascual, along with the country’s economic managers, would be joining the CEO Dialogue on the Philippines with President Ferdinand R. Marcos Jr. as keynote speaker.
“The Dialogue will highlight the administration’s initiatives on energy, food security, and digitalization to add resilience and growth momentum to the country’s economy through public-private collaboration,” DTI said in the same statement.
Further, the trade department noted that the Pascual would be speaking as a contributor in a number of WEF sessions, including MSME Going Global, Next Generation Industrial Strategies and a trade and investment leadership lunch.
Pascual will also be representing the Philippines in several ministerial-level meetings of the World Trade Organization (WTO) on E-Commerce, Investment Facilitation for Development, and Climate Change as the WTO gears up for its Ministerial Conference in February 2024.
According to a news wire report published on Monday, more than 600 CEOs will flock to Davos, Switzerland to attend the WEF, while 51 heads of state will be present, including the Philippines.
On top of these, the report noted, 56 finance ministers, 19 central bank governors, 30 trade ministers, and 35 foreign ministers will be present at the economic forum.