Investors who were part of the recently-concluded ‘MSC Arab Business Delegation to the Philippines’ have pledged over $1mn worth of investments to fund various agro-industrial projects in the Southeast Asian nation.
The ‘MSC Arab Business Delegation to the Philippines’, an initiative supported by the Philippine Economic Zone Authority (Peza), was organised by Doha-based Management Solutions Consultancy (MSC) and implemented by the Association of Filipino Realtors & Entrepreneur Executives in Qatar (Afreeq).
According to Joseph Rivera, one of Peza’s investment promotions partners in the Middle East, the pledges from a business group in Qatar and another from Pakistan “are now undergoing due diligence and feasibility study preparations,” which includes the acquisition of an initial 50 hectares of agricultural lands in three towns of Iloilo province located in the southern part of the Philippines.
The land is being eyed for agro-industrial economic zone development focusing on breeding and raising imported cattle, and for the establishment of a Halal hub. Also, investors from the delegation are planning to fund machinery to upgrade the operations and facilities of a gemstone handicraft industry in Antique province, Rivera told Gulf Times yesterday.
Other ventures include the potential export of Philippine mangoes to Qatar, a mineral processing facility in the province of Guimaras, and the establishment of a one-stop-shop skills and manpower development centre for overseas deployment.
These projects are expected to be formalised early next year, Rivera said.
Earlier, MSC managing partner Abdulrahman Hassan and Police Chief Superintendent Rhodel O Sermonia of the Philippine National Police (PNP) signed an agreement to forge a partnership with the Association of Chief of Police of the Philippines Incorporated (ACPPI) led by Sermonia, who is also the director of the PNP’s Global Police Community Relations (GPCR) programme.
The partnership aims to jointly promote the Philippines as a premier investment and tourist destination by co-hosting promotional and business missions to the Philippines organised by MSC.
Aside from the Southern Philippines, the delegation also held trade and tourism tours in Metro Manila and in Bataan province located in the central island of Luzon.
The delegation was also hosted by Peza director general Charito Plaza at the Peza headquarters in Manila.