Malacañan Palace
January 11, 2025
“Notwithstanding evolving global challenges and their impact on all nations, there are plenty of reasons to be grateful for the past year and still more cause to be hopeful for what lies ahead,” President Ferdinand R. Marcos Jr. remarked when he hosted the New Year’s Vin d’Honneur in Malacañan Palace.
In his toast, the President emphasized that the Philippines has embarked on a diplomatic agenda that leverages international partnerships, resulting in increased bilateral engagements and cooperation with both traditional partners and new allies in key economic sectors and security areas. He highlighted that through an independent foreign policy, the country has broadened and strengthened its diplomatic reach and engagements with the world.
“Last year, we opened four (4) embassies in Europe and in Latin America. This year, we will be opening four (4) more Foreign Service Posts in North America, Asia and the Pacific. And by the end of 2025, we will have 102 Posts, effectively widening our reach globally… We are poised to establish more down the road. We welcomed the opening of some embassies in Manila in 2024, such as Bahrain and Slovenia, and are eager to welcome new foreign missions in the years to come, such as from Central Asia,” he continued.
With a sense of fulfillment and pride, he shared the nation’s economic performance in 2024 despite domestic headwinds and geopolitical tensions. “The Philippine economy remained among the strongest in Asia, expanding 5.8% for the first three quarters of last year and outstripping performances of some peers in the Asian region,” he added.
Notably in 2024, the Philippines received its first-ever credit rating upgrade to ‘A-minus (A-) with a stable outlook’ from Rating and Investment Information, Inc. (R&I) and an ‘upgrade of outlook to positive’ from S&P Global Ratings.
“Looking forward, this government is committed to accelerating infrastructure investments, enhancing the ease of doing business and boosting national competitiveness. These will support businesses, attract foreign investments and spur higher economic growth,” he stated.
Speaking before government officials, members of the Diplomatic Corps and heads of foreign missions, the Chief Executive conveyed that the country is running for a non-permanent seat on the United Nations Security Council (UNSC), underscoring that this candidature reflects the nation’s rich experience in building peace, forging consensus and finding new paths for cooperation.
“Our candidature is consistent with our long-held view that we need to further strengthen multilateralism through efforts that would reform the Security Council and revitalize the General Assembly… I take this opportunity anew to convey to your respective governments our earnest request for your support to our UNSC bid,” he stressed.
In closing, President Marcos Jr. expressed his profound gratitude to the Diplomatic Corps for being valuable partners and for supporting the Philippine Government in its various social and economic programs aimed at improving the welfare of the Filipino people.
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