(Malacanang photo)

MANILA, Philippines (Updated) - President Benigno Aquino III and his 63-member delegation arrived in Davos, Switzerland for the prestigious World Economic Forum (WEF).

Aquino immediately met with executives of Volkswagen, one of world's biggest automakers, to discuss investments opportunities, according to a Malacañang statement. Volkswagen expressed it's interest to reestablish it's operations in the Philippines, the statement said.

Aquinol will also meet with International Monetary Fund (IMF) managing director Christine Lagarde whom he missed during visit to Manila last November.

Aquino's first day in Davos will end with an invitation-only dinner hosted by Filipino businessmen Jaime and Fernando Zobel de Ayala.

The private dinner, which is set for January 24 (January 25 in Manila), is the last of Aquino's scheduled activities on his first day in the town of Davos where he will attend the World Economic Forum (WEF) annual gathering.

The Ayalas control the Philippines' oldest conglomerate, Ayala Corp, which has stakes in real estate, banking, telecommunications, power, and manufacturing.

(Malacanang photo)

Aquino will deliver a speech during a private event organized by PACI or Partnering Against Corruption Initiative, a venue where CEOs and other leaders can interact to develop an anti-corruption platform.

The WEF forum brings together global leaders from business, politics, the academe and NGOs to help shape sustainable solutions in various issues. - Rappler.com