FOREIGN investment is pouring continuously in the country.
Earlier, businessmen from the Netherlands, Sweden, South Korea and Iran are in the country to look for areas where they can put up their businesses.
Other than four countries, Royal Families from the Middle East are also eyeing to lease an island in the Philippines and convert them into economic zones.
PEZA Director General Charito Plaza these Royal Families come from Qatar and Dubai in the United Arab Emirates.
“I had the opportunity to talk to the members of the royal families in Qatar and Dubai. Most of the sheiks and the kings are into real estate business. They signified to us that they will be coming over to invest through PEZA. And we offered to them our islands,” said Plaza.
“They’re coming over next week and they’re going to do their first exploration of how the Philippine investments are going to be,” she added.
What are these investments?
- Oil deposit facilities and refineries in the islands
- Establishing agro-industrial, agro-forestry and tourism economic zones in potential islands
- Develop cities in the islands
- Leasing agricultural lands for business
- Establishment of Halal food processing hub in Davao
- Develop a million-hectare agriculture land
- Build schools
- Put up social development projects in the area
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On the other hand, Russia is committed also to buy up to $2.5 billion worth of Philippine fruit, grains or vegetables.
Trade Secretary Ramon Lopez said the Russian side agreed to a proposal for the importation of Philippine fruit and other agricultural products in the next 12 months.
The Philippines is a major producer of tropical fruits such as banana, pineapple and mango. These fruits are the country's top agricultural exports in terms of volume and value.
Currently, the Philippines ships $46 million worth of exports to Russia every year.
Russia is also planning to invest in energy and infrastructure in the Philippines.
This is particular in machine engineering, hardware, modernizing industrial machinery, railways especially long-range railways, port infrastructure, monorails, light transit transport system, agriculture, and of course, tourism,” he said.
The Philippines may also expect more tourists from Russia.
Russia is also planning to invest in energy and infrastructure in the Philippines.
This is particular in machine engineering, hardware, modernizing industrial machinery, railways especially long-range railways, port infrastructure, monorails, light transit transport system, agriculture, and of course, tourism,” he said.
The Philippines may also expect more tourists from Russia.
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“Of course, the another side of this is their commitment to work with us on counterterrorism, counter-drugs [operations], law enforcement, education finance,” Lopez said.
Russia is not the only country who wants fruit export from the Philippines, China and Iran as well signified their interest to buy fruits from the country.
Russian investment was discussed during bilateral meeting between President Rodrigo Duterte and Russian President Valdimir Putin on the sideline of Asia-Pacific Economic Cooperation (Apec) Leaders Meeting in Peru.
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