Pascual woos UAE investors

MANILA, Philippines — Trade Secretary Alfredo Pascual invited investors from the United Arab Emirates (UAE) to view the Philippines as an ideal investment destination as he pitched opportunities in the country.

“The Philippines is moving toward robust economic expansion. Vital to our government’s efforts is engaging investors – like many of you –  so we encourage you to consider and find the Philippines a place where your businesses can grow and thrive,” Pascual said during the Philippines and United Arab Emirates Forum and Networking held at the Shangri-La Hotel, Bonifacio Global City.

Pascual said that under the current administration, the Philippines is poised to transition to an investment-led economy that would generate higher quality and better-paying jobs for Filipinos.

He also outlined the current administration’s whole-of-government approach to streamline foreign investments in the country.

The Trade chief also announced the upcoming visit of President Marcos to the UAE in December, with the goal of strengthening ties between the two nations.

He shared that President Marcos’ visit would underscore the Philippines’ commitment to address global challenges, particularly climate change, that could pave the way for a sustainable and resilient economic cooperation.

Also during the forum, Pascual, Minister Al Zeyoudi, and Minister Al Sayegh witnessed the signing of two memoranda of understanding between the Federation of UAE Chambers of Commerce and Industry (FCCI) and the Philippine Chamber of Commerce and Industry (PCCI). The MOUs were signed by FCCI vice chairman Abdulla Sultan Al Owais and PCCI president George Barcelon following a strengthened desire of the private sector to pursue business opportunities in the country.

“The potential for collaboration between Filipino and UAE companies is immense, and we eagerly anticipate the fruitful partnerships that can emerge from our shared efforts. Together, we can make it happen in the Philippines – fostering growth, innovation, and prosperity for both our nations,” Pascual said.

Meanwhile, Pascual also affirmed the strong bilateral trade relations between the Philippines and the UAE during the bilateral trade meeting with UAE officials, where he welcomed the high-level ministerial delegations from the UAE led by Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi, and Minister of State Ahmed bin Ali Al Sayegh to discuss potential collaboration and partnership in priority sectors including clean energy, infrastructure and health care.

“This meeting is a testament to our shared commitment of strengthening economic ties between our nations. On the part of the Philippines, we are encouraging UAE firms to explore the conducive business environment in the country as we envision to achieve mutual economic growth,” Pascual said.

Pascual highlighted the Philippines’ growing appeal as an investment destination and outlined broad opportunities for collaboration across various sectors to further strengthen economic and bilateral partnership between both countries.