President Ferdinand R. Marcos Jr. speaks at the 2023 World Economic Forum (WEF) Country Strategy Dialogue in Davos, Switzerland. (Malacañang photo)

QUEZON CITY, (PIA) -- President Ferdinand R. Marcos Jr. is positive that the strong presence of overseas Filipino workers (OFWs) in the Middle East will help the Philippines get investments from Arab countries.

During the open forum of the World Economic Forum (WEF) in Switzerland, Pres. Marcos said that the relationship between the Philippines and the Gulf countries is strong because of the significant number of Filipinos working there. The President was asked how he sees possible engagement with Gulf countries, which now consider Southeast Asia a new location for investments.

"Because in the talks that we've had with some of the leaders from the Middle East, the discussion always begins with the overseas Filipino workers," he said.

Pres. Marcos said the Philippines was fortunate to have established solid relations with the Middle Eastern countries because of the enormous concentration of OFWs in Gulf states.

He added that the Philippines is open to any significant capital-intensive investment from the Arab countries, especially now that the country is on its way to economic recovery.

The President further said that trade also always comes into play, especially with the Organization of Petroleum Exporting Countries (OPEC) members’ very expansive and aggressive spending plan for the next few years, noting that trade becomes part of the discussion with Arab nations as the Philippines speaks about its planned sovereign wealth fund.

“Some of the examples that we’re looking at are the ones in the Middle East because they have been the ones that have been most successful,” he said.

“The connections are there — we just not have — put it in that area. But I’m sure that any opportunities that we will be given [we] have to take full advantage of,” he added. (PIA-NCR)