PH confident to attract more investments amid APEC Summit 2025

The Philippines is confident that the 2025 APEC Summit in Gyeongju, South Korea would bring more investments for the country despite corruption issues in the country, the Department of Foreign Affairs (DFA) said on Tuesday.

The DFA announced that President Ferdinand ''Bongbong'' Marcos Jr. will participate in the Summit, which is centered on trade and economy, from October 30 to November 2.

''Yes, these are opportunities for us to get more investments from the Republic of Korea," DFA spokesperson Angelica Escalona said in a press briefing when asked if the corruption scandal in Manila will affect the President's plan to woo investors at the sidelines of the Summit. 

Escalona also said there has been an interest for the Philippines when it comes to the economic aspect. 

Asked about the 700-billion won or about P28-billion infrastructure loan project to the Philippines ordered halted by President Lee Jae-Myung, Escalona said this has already been settled.

'''Yung issue na 'yun, 'yung alleged loan, we consider that a closed matter (That issue, that alleged loan). The Republic of Korea has issued a clarification on this at sinabi na rin ng Korea (Korea said), they reassured us of their support for advancing development cooperation with the Philippines,'' she said.

Marcos is expected to have meetings with business leaders at the sidelines of the APEC Summit.

He will also have a meet and greet with the Filipino community in Busan. Escalona said there are 70,000 Filipinos in South Korea, wherein 42,000 are overseas Filipino workers. —VAL, GMA Integrated News