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One will wonder if there is a political turmoil in the Philippines or an economic collapse that is precipitating the fast decline of the peso against the US dollar. Nothing could be farther from the truth.

Last Sunday, Sept. 4, President Ferdinand Marcos, Jr. left the country to embark on his first ever state visit as the Philippines’ chief diplomat. Or, as he mentioned in his departure speech “mangangapitbahay muna para sa ating bansa at para sa ating ekonomiya.” His first overseas trip will bring him to Indonesia and then to Singapore. And then, as I understand it from the announcement of the Department of Foreign Affairs (DFA), PBBM will also fly to New York to speak before the United Nations General Assembly.

Investor confidence in the Philippines is unmistakably rising. Several factors support this—chief of which is the solid macro-economic fundamentals in place. Another major factor is the business-friendly policies of the Marcos government.