The recently-held ‘Philippine Investments Conference’ by the Philippine Economic Zone Authority (Peza) has attracted $103mn worth of investment pledges from Qatar, an official has said.
In a statement, Peza special adviser to the director general for Middle East and Northern Europe Joseph Timothy Rivera said the $103mn investment pledges, approximately P5.15bn, surpassed the Peza’s P1bn target.
He said Qatari investments in the Philippines were focused on the establishment of retirement villages, economic zones, agro-industrial plantations, and in the fields of IT solutions.
Rivera also said preparations are underway for the “fine print” of a cooperation agreement for a Qatari economic zone locator eyeing potential business ventures in the Philippines.
Similarly, talks are ongoing with two Qatari organisations and an investment company from Abu Dhabi for the establishment of an ‘Islamic City’ in the Philippine island of Palawan.
“The names of all companies that have pledged investments during the conference, including those who have shown interest, will be announced once their respective memorandum of agreements are drafted in preparation for the forthcoming ‘Philippine Investors Forum’ where all deals will be signed hopefully in the presence of President Rodrigo Duterte when he visits the region in April,” Rivera said.
According to Rivera, Philippine embassy chargé d’affaires Roussel R Reyes, in a statement, congratulated Peza and reaffirmed its support to Peza initiatives.
“The embassy also appreciates its strong partnership with the Filipino Community here as it is essential to our country’s efforts to enhance bilateral relations with Qatar,” the statement said.
During her visit to Doha, Peza director general Charito Plaza called on HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani and HE the Minister of Energy and Industry Dr Mohamed bin Saleh al-Sada.
Plaza also toured the Education City and met with members of the Filipino community and officials of various Qatar-based Filipino organisations.
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