Home Business News Arab bizmen scouting for investment prospects in PH

Arab bizmen scouting for investment prospects in PH

By Leslie Gatpolintan

 

MANILA — A group of Arab investors are in the country scouting for business opportunities.

Joseph Timothy Rivera, Philippine Economic Zone Authority (PEZA) Investment Promotions Partner, said they organized an eight-day visit here starting Tuesday to encourage nine Arab businessmen to put up businesses in the country, particularly in the economic zones.

Rivera said the PEZA has explained in-depth to these investors the advantages of locating an investment within an economic zone and will show the sites which are still open for development.

“We are visiting the provinces of Iloilo, Guimaras, Antique, Laguna, Cavite, Batangas, Pampanga, Bataan… Di na kami masyadong magpapakita sa kanila ng (We will no longer show them areas of investment in) Metro Manila in support to Administrative Order 18 of the President (Rodrigo Duterte) to bring the developments outside,” he said in an interview Tuesday.

Rivera said these Arab businesses are into retail, agro-industrial, electronics, and real estate development.

“Isa sa kanila (one of them) wants to do solar (project),” he added.

Rivera said their visit in the country is the first of three, noting they also organized similar trips of businessmen from the Middle East here in September and November.

Ashraf Siddiqui, the representative of Al Ansar Group, said it will consider setting up a manufacturing facility in the Philippines.

“Basically, it is importing most of its items from Europe, America, and China. Don’t have manufacturing, (it) might be the first manufacturing plant,” he said in a separate interview.

Headquartered in Dubai, Al Ansar Group is an integrated business solution provider catering to various countries in diversified verticals, including education, technology, research and development, and business solutions. (PNA)

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