But investment analysts were unimpressed, saying these commitments were insignificant and could be had without a foreign trip.
“Investment pledges are always good, but until we actually see these pledges on the ground and start to get implemented, only then can we realize and reap real benefits,” Ruben Carlo O. Asuncion, chief economist at UnionBank of the Philippines, Inc., said in a Viber message. “If it’s viable and those areas are actually useful for your operation, then that would be something that we can immediately develop,” Mr. Marcos said, adding that he prefers public-private partnerships for infrastructure development.
Morgan Stanley has been advising clients on transactions, including mergers, acquisitions, restructuring, initial public offerings, share repurchases, debt offers and derivatives, among other services.Mr. Marcos, 65, arrived in Switzerland on Sunday for the Davos conference, where he pitched the wealth fund — “one tool among many” in the Philippines’ efforts to diversify its financial portfolio. Philippine institutions are pursuing investment that will generate stable returns, he added.
Mr. Ridon said the president does not need to go to Davos “if only to convince DP World to expand its operations in the country.”