The Department of Foreign Affairs (DFA) expressed strong optimism today regarding the expected outcomes of President Ferdinand R. Marcos Jr.’s participation in the 32nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting, to be held in South Korea from October 30 to November 2. The administration views the high-level attendance as a strategic opportunity to significantly increase investment commitments from the Republic of Korea (ROK).
The APEC Summit, which is centrally focused on promoting regional trade and economic cooperation, aligns directly with the Philippines’ economic diplomacy agenda.
“Yes, opportunities for us to get more investments from the Republic of Korea are high,” stated DFA Spokesperson Angelica Escalona during a Palace briefing. She confirmed that the President is scheduled to engage with various top Korean business leaders and executives throughout the duration of the trip, emphasizing the Philippines’ readiness to welcome foreign capital across key sectors.
Spokesperson Escalona also took the opportunity to address preemptive inquiries regarding the stability of the Philippine investment climate. She dismissed concerns that domestic political issues would hinder the President’s efforts, noting that the economic interest in the Philippines remains robust and continues to grow.
Furthermore, Escalona confirmed that the reported issue concerning a 700-billion-won infrastructure loan project has been officially settled. “We consider that a closed matter,” she said. “The Republic of Korea has issued a clarification on this and has reassured us of its support for advancing development cooperation with the Philippines.”
The delegation’s attendance at the 32nd APEC Summit underscores the administration’s commitment to strengthening diplomatic and economic ties in the Asia-Pacific, positioning the Philippines as a leading and stable destination for investment and long-term partnership.
