An estimated Dh1.8-billion worth of investment pledges are expected to be signed by President Rodrigo Duterte in his upcoming visit to the Middle East this month.
This was disclosed by Philippine Economic Zone Authority (PEZA) Director General Charito Plaza.
Plaza revealed that most Middle East firms will place their investment in agriculture sector and halal industry in the Philippines. Most of these investments would be concentrated in Mindanao.
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.
She noted that this would be in line with the administration’s goal to spur economic growth outside Metro Manila.
