The Philippines and the United Arab Emirates (UAE) are working to broaden their trade partnership to enhance economic ties.
His Excellency UAE Minister of Investment Mohamed Hassan Alsuwaidi visited President Ferdinand Marcos Jr. in Malacañang on Friday, February 7, to discuss expanding trade and investment opportunities.
President Marcos noted that Alsuwaidi’s visit demonstrated the countries’ commitment, saying, “I’m happy to see you and discover so many areas that would be possible for us to explore further.”
“The UAE official’s visit would open more investment opportunities in the country, including in infrastructure, renewable energy, artificial intelligence, health care and education,” he stated.
His Excellency Alsuwaidi praised the Filipino workforce, particularly nurses, stating, “The UAE recognizes Filipino nurses for providing excellent patient care.” He added, “After having discussions today, we really don’t understand why we haven’t historically invested more. The opportunities we see — whether in infrastructure, industrial mining, telecommunications, data centers, renewables, or healthcare — are tremendous.” In 2023, the UAE was the Philippines’ 18th largest trading partner.
Philippine Ambassador to the UAE His Excellency Alfonso A. Ver emphasized the significance of these developments, stating, “The visit of UAE Minister of Investment and ADQ CEO/Managing Director Mohammed Hassan Al Suwaidi is proof positive of the renewed and invigorated interest of the UAE in expanding trade and investment in the Philippines in new and cutting-edge fields including renewable energy, data centers, and infrastructure, sectors where the UAE is a global leader.”
He further noted, “This meeting comes at the heels of the visit of President Marcos to the UAE last November and signals the start of successive trade and investment initiatives leading to real projects that would benefit the Filipino people.” He added that several other projects are being packaged and will be presented to the Philippines in the succeeding months, which will further complement the Philippines’ positive growth rates for the year 2025 and beyond.
Investment from the UAE has been growing, with a total of P376.71 million in approved investments in 2023, and P82.59 million from January to September 2024.
Key sectors for investment promotion include agribusiness, energy efficiency, renewable energy, infrastructure, AI innovation, IT, and business process management.
Significant agreements include a Memorandum of Understanding signed in November 2023 to develop high-capacity data centers in the Philippines and an implementation agreement in January 2025 for renewable energy projects worth US$15 billion.
During a November 2024 visit to the UAE, President Marcos met with UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and expressed his gratitude, stating, “We acknowledge the care and respect shown to the Filipino community here.” The two leaders also discussed expanding bilateral cooperation into new sectors beyond traditional areas.
