Aquino to meet with IMF, Volkswagen officials in Switzerland

MANILA -- President Benigno Aquino III will meet with a top official of the International Monetary Fund (IMF) and executives of Volkswagen at the sidelines of his visit to Davos, Switzerland, to attend the annual World Economic Forum (WEF).

The President together with his lean delegation left for Switzerland on board a chartered Philippine Airlines flight Wednesday night to join world and international business leaders in the economic forum.

On his first day in Switzerland, Aquino is scheduled to meet with IMF Managing Director Christine Lagarde, whom he failed to meet when the latter went to the Philippines last year.

Lagarde visited the Philippines in November 2012 and met with government officials to discuss the Philippine economy and the partnership between the Philippines and the IMF.

The President will also meet with Volkswagen executives to discuss investment opportunities in the Philippines. Volkswagen vehicles are sold in 153 countries and the company employs about 502,000 workers worldwide.

The President will then attend WEF Activity "Partnering Against Corruption Initiative (PACI) – Private Reception" and will deliver a speech.

PACI is a venue where CEOs and other leaders can interact to develop an anti-corruption platform.

After his engagements related to IMF, Aquino will attend a private dinner to be hosted by business magnate Jaime and Fernando Zobel de Ayala.

The President is joined by a 63-member delegation led by Foreign Affairs Secretary Albert del Rosario, Finance Secretary Cesar Purisima, Budget Secretary Florencio Abad, Trade Secretary Gregory Domingo, National Economic and Development Authority head Arsenio Balisacan, and Cabinet Secretary Rene Almendras.

In his departure speech, the President said his attendance to the WEF will provide an opportunity to showcase before European and international business leaders the accomplishments of his administration in implementing widespread and meaningful reforms in governance.

He said he would particularly highlight the gains achieved by the Philippine economy that was able to post a 7.1 percent growth rate during the third quarter of 2012, the second highest in the region, the strengthening of the peso, the lowering of interest rates, and the surging Philippine Stock Exchange index.

He noted that because of the improved conditions in the country, he would exhaust every moment to invite potential investors to put up their businesses in the Philippines and take advantage of the industry and brilliance of the Filipino.

He added that his attendance to the WEF and the corresponding chances to meet with his counterparts from Europe and the world would allow them to further strengthen relations.

Aquino is also expected to meet with overseas Filipino workers in Switzerland.

There are an estimated 10,000 OFWs living and working in Switzerland. (Jill Beltran/Sunnex)