Sawa na sa Switzerland? Jet-setting Marcos unsure about attending World Economic Forum in Davos

After months of back to back overseas trips, President Ferdinand Marcos Jr. plans to take a pause from flying despite an invitation to attend the World Economic Forum in Switzerland in January 2023.

Marcos said flying to Switzerland is “too much traveling,” adding that his investment pitch may be bungled.

“I am undecided yet. It’s travelling too much,” Marcos said on Sunday (November 13) after attending the ASEAN Summit and related events in Cambodia.

“The real decision there is really going to be, if we are going to ask people to come to the Philippines, who are going to invest in the Philippines, are we ready for them?” he added.

Marcos said he’s already set to fly to China in January next year.

“Pupunta ko doon sa Davos tapos sasabihin mo ‘pero hindi, huwag muna ngayon, next year pa (kayo mag-invest),’ ‘di ba? Ba’t pa natin gagawin?,” the President addrd.

Foreign investments are slow to materialize after initial agreements are sealed, with foreign firms going through due diligence in their headquarters and then complying with various regulations in Manila before actual capital infusions are made and Philippine operations get started.

ERC to look into complaints of overcharging by power firms

Numerous complaints on increasing electricity rates have prompted the Energy Regulatory Commission (ERC) to launch an investigation on the accuracy and reasonableness of the generation rates being passed on by distribution utilities (DUs) to its consumers.