Two UAE-based companies, one in logistics and the other in clean energy, will invest over P25 billion in the Philippines, as confirmed by Trade Acting Secretary Ma. Cristina Roque.
Roque stated that DP World and Masdar reaffirmed their investment plans in the Philippines during her visit to the UAE from October 3 to 5, according to a report by the Philippine News Agency (PNA).
DP World, she said, is looking into developing ports across the Philippines to add to its existing project with Asian Terminal, Inc.
“They’re also willing to invest up to P25 billion in the Philippines. That’s the maximum investment they are looking into for port opportunities,” she said in an interview, adding that they also want to invest and seek local partners while aiming to operate the different ports in the country.
Meanwhile, Masdar plans to invest at least P600 million in the country and is scouting for a minimum of 50 hectares for its renewable energy development.
“They want to get into this kind of business, which is solar, wind, and battery… And then, their minimum investment is P600 million,” Roque said.
During her visit to the UAE, Roque met with UAE Minister of State for Foreign Trade H.E. Dr. Thani bin Ahmed Al Zeyoudi to advance the Comprehensive Economic Partnership Agreement negotiations. She also graced a pop-up event that showcased Philippine products including clothing, fashion, home accessories, and artisanal goods.
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