Duterte Admin Secures $500 Million Investments From Middle East Countries Ahead of His Visit


The administration of Pres. Rody Duterte already secured $500 million worth of investments pledges from Middle East countries ahead of his visit which is scheduled next month. Middle Eastern countries' possible investment to the investment was revealed to the media by PEZA Director General Charito Plaza.



Director General Charito Plaza was quoted as saying "During our Middle East visit we were able to gather $500 million investment pledges that will be signed as an MOU (memorandum of understanding) when the President visits the Middle East," Charito Plaza stated.

According to PEZA most of the investments from Middle East will be placed in Mindanao. Pres. Rody Duterte plans to visit three Middle East countries - Saudi Arabia, Qatar and Bahrain - during the Holy Week in his bid to boost economic relations and secure better working conditions for Filipino workers.


 According to Director General Plaza revealed that she and her team in PEZA will go in advance to the Middle East to prepare the MOU signing. "So when the President goes, he will just have to witness (the signing)," Plaza said.

Director General Charito Plaza added further that "They are more interested in agriculture so they will invest in the agro-industrial economic zones and the halal hubs and production zones," she added.

Pres. Rody Duterte is considered as one of the most popular head of state in the Middle East because most of the Arab investors are fans of the President because of his toughness, because of his integrity and good governance.

PEZA also noted that they would not be surprise if there will be additional investments pledges that will come in on top of the $500 million given Duterte's popularity with Middle East investors.

Aside from securing better working conditions for Filipino workers in the Middle East, the Philippines will also work in enhancing trad and investment cooperation with the Middle East during the presidential visit, according to Trade Secretary Ramon Lopez.

DTI Secretary Lopez will join the President in his Middle East visit, together with members of the private sector delegation composed of a little over 60 businessmen.

Source: PhilStar


Duterte Admin Secures $500 Million Investments From Middle East Countries Ahead of His Visit Duterte Admin Secures $500 Million Investments From Middle East Countries Ahead of His Visit Reviewed by Phil Newsome on 4/07/2017 Rating: 5

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