Qatari firm JTA International Investment Holding has pledged at least $3 billion to fund potential ventures in the Philippines, focusing on the IT, healthcare, and construction sectors, its founder and CEO said on Tuesday.
In a media briefing organized by the Philippine Chamber of Commerce and Industry (PCCI), which has been instrumental in positioning the Philippines as a lucrative investment destination for JTA, Dr. Amir Ali Salemi said the firm is looking for standout projects wants to team up with local companies to make them happen.
Headquartered in Doha, JTA is a diversified investor with a portfolio spanning energy, healthcare, construction and infrastructure, technology, and tourism. The company has recently opened an office in Cebu, signalling serious intent to invest in the country.
JTA has already lined up two Cebu projects involving real estate and tourism assets, including hotels and resorts. A billion dollars—about a third of the $3 billion investment fund—has been earmarked for the Cebu ventures, subject to approvals.
The firm is also in talks with Filipino telecommunications company Converge ICT Solutions on a proposed technology hub in Clark, Pampanga. A memorandum of understanding between the two companies is set to be signed soon.
Another project under consideration is the development of a hospital outside Metro Manila.
Salemi said he hopes to start a JTA-funded project in the Philippines by the fourth quarter of this year.
The media briefing was attended by PCCI President Emeritus Enunina Mangio and JTA Country Representative Juan Vito Genson in Taguig.
The PCCI, established in 1978, is a non-profit organization representing the private business community, including small, medium, and large enterprises, as well as local chambers and industry groups. With nearly 30,000 networks nationwide, PCCI works to strengthen the Philippine economy and promote business growth across the country.
