PBBM in Europe
The Philippines secured pledges reportedly amounting to over Php6 billion from private companies — Unilever, Ocea, Acciona and SEMMARIS.

After visits to the US and neighboring countries in Southeast Asia, our President ventured to Europe to establish and strengthen ties with Western countries, symbolic of his style of governance and leadership — diplomatic and dynamic. He brought with him a strong delegation meant to invite more investments in the Philippines, as it seeks to stimulate and improve the economy that was hit by the pandemic.
Juan de la Cruz asks — what will the Filipinos benefit from all these costly overseas trips? The answer clearly is that it would not be immediate. What we have here are proposals and commitments made two-way. Our President spoke before the audience in the official meeting, the Association of Southeast Asian Nations — European Union Commemorative Summit, on three key areas: maritime cooperation, trade, and climate change action. On the sidelines, President Marcos Jr. met with the King of Belgium to discuss a strategic partnership.
On the other hand, the Philippines secured pledges reportedly amounting to over P6 billion from private companies — Unilever, Ocea, Acciona and SEMMARIS. These companies either have existing operations or are in the exploration stage of investing in the Philippines. The President's assurance of good business in the Philippines can ensure the formalization of these pledges that will stimulate economic growth outside of Manila and generate jobs in the thousands.
President Marcos Jr., while his officials are here in the Philippines, is pushing the envelope on important concerns before the holidays kick in. It might be a smart move for the President to be outside the country. He would be able to avoid the endless Christmas reunions held from breakfast until late evening and focus on bringing in investments for the country.
Please do not get me wrong, the Executive and Legislative branches are not having it easy right now. The 2023 national budget is undergoing meticulous study by the DBM. The budget must be ready for the President's signature when he gets back. Congress has been hearing on the proposed sovereign wealth fund, known as the Maharlika Wealth Fund, which has been the subject of scrutiny from people from all walks of life. The Commission on Appointments wrapped up its daily hearings on Wednesday, where two Cabinet secretaries were bypassed Secretary Erwin Tulfo of DSWD and Secretary Fred Pascual of DTI.
To end, let me say this — overseas trips are good, but we eventually have to evolve on the purpose and nature of these expeditions. For the past decades, our public officials have been visiting countries for several reasons, but these usually relate to an invitation to invest in the Philippines and to strengthen relations given the existence of a Filipino community in that country. Eventually, this must turn into the Philippines' visit due to its intent to invest in a foreign country. Take Vietnam for instance: What was once a poor laggard in ASEAN, is now a vibrant and progressive economy. In the US, Vietnam is putting up a $2 billion car factory that will manufacture electric vehicles to be sold in the US. How can this be possible for a Southeast Asian country?
