President Ferdinand Marcos Jr. welcomed business leaders from across the region on Thursday who are in Manila to participate in the 14th Asian Business Summit (ABS).

The Philippines-Japan Economic Cooperation Committee (Philjec) is organizing the summit with the Japan Business Federation or Keidanren. The Philippines is hosting the summit for the second time; the first was 11 years ago, in 2014.

During a courtesy call in Malacanan Palace by officials of Philjec and Keidanren, as well as ABS delegates, Marcos underscored the importance of strengthening multilateral cooperation and interrelationships amid global challenges.

“The interrelationships between our different countries are going to be the key to stability and development and progress,” Marcos said during the courtesy call.

In a statement posted on social media, the President said the government is working with Philjec and delegates of the 14th ABS “to bring in investments in clean energy and modern industries that will create quality jobs for Filipinos.”

“Soon, we will see factories powered by renewable energy and digital hubs rising across the country, bringing progress closer to every Filipino family,” Marcos said.

Philjec chairman Richard Albert Osmond, president of the Science Park of the Philippines Inc., said that business leaders from 12 economies are represented in the ABS.

The first Asia Business Summit was held in Tokyo in 2010, initiated by the Keidanren.

Others present during the courtesy call were Philjec co-chairman Alfred Ty, chairman of Toyota Motor Philippines Corporation; Philjec co-chairman Ferdinand Ferrer, CEO of Gruppo EMS Inc.; Nobuhiro Endo, Keidanren vice chairman and executive advisor of NEC Corp.; and Masayuki Hyodo, Keidanren vice chairman and chairman of the board of directors of Sumitomo Corp. Presidential News Desk