MANILA, Philippines - Top Saudi Arabian companies are planning to make the Philippines as the kingdom’s “food hub” in the region starting with investments in production and joint ventures with local agribusiness firms, Malacañang announced yesterday.
Deputy Presidential Spokeswoman Lorelei Fajardo made the announcement following a series of meetings of President Arroyo, Trade and Industry Secretary Peter Favila, and Agriculture Secretary Arthur Yap with top Saudi business leaders on Monday in Damman, Dhahran, Al-Khobar, and Jeddah.
Mrs. Arroyo is in Saudi Arabia upon the invitation of King Abdullah bin Abdulaziz Al-Saud. She was scheduled to hold talks with the King last night (Manila time) in Jeddah and expected to be back tomorrow.
Yap earlier this week met with a group of Saudi agricultural investors led by Sheikh Mohammed Al Rahji, who is the over-all coordinator of the Far East Agricultural Company (FEAC), where it was agreed that the group would visit the Philippines in November and work on investments in “production and trading joint ventures,” Fajardo said.
FEAC is made up of 10 Saudi companies engaged in the production and trading of poultry products, livestock, fruits, grains and cereals.
Joining the FEAC are Saudi companies Ommat, Tadco, Al Saniee Group, Hadco, and Altuwaijri Est, “which are recognized KSA companies in food (cereals and grains) and fruits production, poultry and livestock production, trading, distribution and logistics,” Malacañang said.
Prior to the meeting, the Saudi company Al Rahji wrote to Yap confirming that the Philippines is being strongly considered to be Saudi Arabia’s “food hub” in the region.
“The Saudi group will visit the Philippines in November 2009 to meet with possible counterparts and partners, even as initial trading ventures in fresh and processed banana products have been sealed,” Fajardo said.
Yap also met with Saudi Agriculture Minister Fahad Balghunaim to finalize agri-investments mission to the country.
Meanwhile, heads of three Saudi Arabian firms with diversified scopes of businesses expressed to invest in the Philippines during their meeting with Mrs. Arroyo.
The firms are Al-Zuwaidi, Rawabi, and Al-Zamil. Their representatives were received by the President at the Presidential Suite of the Gulf Royal Palace, her official residence during her two-day stay in this province.
Favila said discussions with Jassim Mohammad Al-Suwaidi, chairman of the Al-Zuwaidi Group, focused on how the Philippines could fill the demand for manpower requirements of the Kingdom.
“He said the Filipino workers are very hardworking, very loyal, and very sincere,” Favila said.
“They (Al-Zuwaidi Group) encouraged us to fast track our training and expand our training facilities (to improve our workers skill and competence immediately),” he added.