(UPDATE) ABOARD THE PHILIPPINE PRESIDENTIAL PLANE: President Ferdinand "Bongbong" Marcos Jr. will tell the world the Philippines "is forming a sovereign wealth fund for big investments" when he joins global leaders and top chief executive officers at the World Economic Forum (WEF) in Davos, Switzerland, this week.

Speaking to reporters accompanying him to Switzerland, Marcos said he will pitch the Philippines as an "investment destination" during the forum.

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