President Ferdinand Marcos Jr. spent his first day in Cambodia meeting with ASEAN leaders and discussion partners. On Thursday morning, his first agenda item was to invite businessmen to invest in the Philippines. He addressed business leaders, emphasizing that his government is driving the Philippine economy in the correct path.

“And as I was telling some of the Cabinet members, I think the Philippine economy, the important elements are in place and you can feel that our economy is trying to grow but is really being pummeled by the forces outside of which we have no control,” the President remarked.

To encourage additional investors, Marcos stated that the government has changed its policies on public-private partnerships and government-to-government transactions.

“We would like to invite at the very least, for you, to have a look at the opportunities that are available,” Marcos said during a CEO roundtable meeting in the morning. “And finally I supposed at some point, since we are not so far away, to come and we will explain to you exactly what we have done and why we have done it and where we have arrived in that process of transforming the economy.”

According to the Office of the Press Secretary, an agreement has been reached to collaborate in a variety of sectors, including rice imports, low-cost housing, and even the hiring of additional Filipino nurses in Cambodia, among others.

However, Marcos joined other ASEAN leaders in a meeting with Cambodian King Norodom Sihamoni. He also met with Vietnam Prime Minister Pham Minh Chinh, who praised the Philippines on its COVID-19 response and for having one of the highest GDP growth rates in ASEAN.

“As we have observed, the Philippines and Vietnam since the beginning of our diplomatic relationship have had a burgeoning, a growing relationship, both in the political and security side and of course, in terms of trade and in people-to-people exchanges,” Marcos said in his address.

The two leaders resolved to strengthen relations in security, commerce, and agriculture, particularly because the Philippines views Vietnam as a key partner in maintaining food security. Vietnam has supplied 90% of the country’s imported rice.