At the 2025 World Economic Forum in Davos, Switzerland, Speaker Martin Romualdez reiterated the Philippines’ dedication to creating a more investor-friendly climate. During a breakfast meeting with global business leaders, Romualdez emphasized the government’s ongoing efforts to refine legislative and regulatory frameworks to attract foreign investment and foster national development.
Romualdez highlighted the CREATE MORE law, recently signed by President Ferdinand R. Marcos Jr., as a pivotal part of the government’s strategy. This law aims to streamline investment processes, offer enhanced tax incentives, and focus on strategic industries, demonstrating the administration’s commitment to a business-friendly environment.
The Speaker also pointed out the Philippines’ strong economic performance, with a GDP growth of 5.5% in 2023 and 5.8% in the first nine months of 2024, positioning the country as the second fastest-growing economy in ASEAN. He noted that inflation had decreased to 3.2% in 2024, showcasing the government’s efforts towards macroeconomic stability.
Romualdez discussed the establishment of the Maharlika Investment Corporation, the nation’s first sovereign wealth fund, as a significant move to drive development and attract investments in key sectors like energy security, digital infrastructure, and tourism. He stressed the importance of co-investments with the private sector, including foreign investors, to achieve these goals.
Sustainability was another focus, with Romualdez citing the 2022 policy that allows full foreign ownership of renewable energy projects. This policy has led to the approval of 141 renewable energy initiatives worth USD70 billion, which are being fast-tracked through green lane access.
Looking ahead to the Philippines’ ASEAN Chairmanship in 2026, Romualdez expressed optimism about the country’s role in promoting economic cooperation. He referenced the historical Manila-Acapulco Galleon trade, hoping to position the Philippines as a ‘BRIDGE’ for Building Resilient, Inclusive, Digital, Green Economies.
Romualdez assured stakeholders of the government’s commitment to continuous engagement with various sectors to refine its economic policies, ensuring a collaborative approach to economic development.