Properties in tourism-related sectors in the Philippines are among the “attractive investment projects” for Qatari investors, a representative of the Philippine Economic Zone Authority (Peza) has said.
Joseph Rivera, Peza consultant and special adviser to the director-general for the Middle East and Northern Europe, underscored the investment appetite of Qatari investors on the Philippine property market, specifically in the resorts and hotel industry.
“Incentives and other benefits are among the key factors that attract foreign direct investments into the Philippines, and Peza has been very assertive in offering these to investors, including Qataris,” he told Gulf Times yesterday at a press conference announcing the ‘Philippine Trade and Tourism Conference-Qatar’ slated on October 20 at the Shangri-La Doha.
Rivera said Peza is offering land lease of up to 75 years, 100% ownership to foreign investors, special visas for investors (including family members and workers), six to eight years income tax holiday, and tax-free importation of equipment and materials.
Bhem R Asperilla, the vice-president for sales MEA1, territory head Qatar/Bahrain/UAE at Megaworld International, said that aside from resorts, Qataris also invest in hotel and condominium projects.
“To illustrate the keenness of these investors, there was a time when a Qatari purchased as many as 50 units, and Qatari investors pay in cash. Megaworld has eight investment projects under Peza, which are gaining traction among Qataris,” said Asperilla, who also noted that the ongoing Gulf crisis did not affect the investment appetite of Qataris in the Philippines.
The conference, hosted by the Association of Filipino Real Estate Executives in Qatar and LiQha Trading & Creative Arts, aims to provide Overseas Filipino Workers (OFWs) in Qatar alternative sources of income back in the Philippines.
LiQha CEO Jeanette Gotangonan said the conference will offer investment opportunities to OFWs in the fields of real estate, agri-business, eco-tourism, stocks and bonds, and straightforward networking.
“As far as Peza’s involvement in this event, our aim is to promote hotel and resort investments in our numerous tourism economic zones in the Philippines. In terms of trade, we want to encourage OFWs and Filipino small and medium-sized enterprise owners to invest in Peza’s vast agro-industrial ecozones,” Rivera stressed.
Asked about the conference’s role in enhancing Qatar-Philippines relations in the fields of trade and tourism, Rivera said: “The event would give Qatari investors more options when planning to invest in the Philippines’ tourism sector, which is now gaining more ground in terms of investment opportunities. 
“In terms of general trade, the event only has a slight impact on the macro level, but on the micro level it will benefit overseas Filipinos based in Qatar because the programmes to be offered during the conference are aimed at encouraging OFWs to become more entrepreneurial and to invest on other sources of income in the Philippines. With additional sources of income, this could lead to increased productivity in their jobs.”