USD500-M investment pledges up during PRRD’s visit to Middle East

MANILA-- Philippine Economic Zone Authority (PEZA) Director General Charito Plaza said some USD500-million worth of investment pledges are expected to be signed during the visit of President Rodrigo Duterte in the Middle East.

Plaza, in an interview, said most investment interests of Middle East firms in the Philippines were in agriculture sector and halal industry.

The commitments were an offshoot of PEZA's investment roadshow in Riyadh, Dubai, and Qatar last February.

"During our Middle East visit, we are able to gather USD500 million worth of investment pledges. This will be signed when the President go to the Middle East," the PEZA chief said.

President Duterte plans to visit the Middle East this month.

Plaza added that since the interests of Middle East economy were in the agriculture and halal sectors, most of these investments would be concentrated in Mindanao.

She noted that this would be in line with the administration's goal to spur economic growth outside Metro Manila.

Source: Philippines News Agency

Related posts