Qatar Investment Delegation To Visit Philippines In September For Business Deals Under Duterte Gov’t
A delegation from the Qatar Investment Authority (QIA) is
set to visit Manila possibly in September to scout for possible business deals
here following the successful visit of President Rodrigo Duterte to the Gulf
state last month.
Qatar Ambassador to Manila Ali Ibrahim A. I. Al-Malki
informed Finance Secretary Carlos Dominguez III of the planned trip and
extended his country’s thanks to the Philippine government for the “very
successful” visit of President Duterte to the Middle East last April.
Dominguez informed the Ambassador that the QIA can explore
investments in such fields as tourism and logistics.
“There are many areas where we need tourism facilities. We
will welcome investments from your fund in that area,” Dominguez said. “We are
an archipelagic nation, so Qatar can also look into investing in
logistics-shipping here.”
Dominguez also said Qatar can invest in the pharmaceuticals
industry and the housing sector.
Qatar is the world’s biggest exporter of liquefied natural
gas.
According to the Sovereign Wealth Fund Institute, Qatar’s
wealth fund is the 14th largest in the world.
The Ambassador also said he is planning on organizing a
tourism expo in Qatar showcasing the Philippines, as Qataris do not know much
about our country as a tourist destination as they do the other Southeast Asian
countries.
In the meeting, Dominguez also discussed with the Ambassador
the Philippine government’s preference for a hybrid Public-Private Partnership
(PPP) formula.
Under this hybrid PPP mode, the government selects, finances
and builds big-ticket projects through competitive public bidding and, upon
completion, auctions off their operation and maintenance (O&M) to the private
sector.
Besides an Agreement on Reciprocal Promotion and Protection
and Investments, which secured for the Philippines an initial $206 million in
business deals from Qatar, the two countries also signed during President
Duterte’s April visit three other agreements on cultural cooperation; health
and research; and technical-vocational education and training.
Qatar Investment Delegation To Visit Philippines In September For Business Deals Under Duterte Gov’t
Reviewed by Yen
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May 20, 2017
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