PEZA drums up investor interest ahead of Duterte’s Middle East visit

MANILA, Philippines – The Philippine Economic Zone Authority (PEZA) is leading a delegation that will warm up investors in the Middle East ahead of President Duterte’s planned state visit there late next month.

“It was PEZA which initially conducted talks with some sheikhs and businessmen in these countries so the Department of Foreign Affairs (DFA) is asking us to be in the frontline in formalizing the possible investments to the  Philippines prior to the state visit of President Duterte,” PEZA director general Charito Plaza said.

Duterte is tentatively scheduled to visit several Middle East destinations from Feb. 26 to March 3. Among those in the pipeline are Riyadh, Dubai, Qatar, Bahrain, Oman and Kuwait.

The PEZA chief said her agency will be accompanied by officials from the DFA, Department of Trade and Industry, Philippine Chamber of Commerce and Industry, and other government and private sector executives during the investment roadshow.

“Owners of some identified economic zones will also come. Some are governors, mayors, private land owners, they will join us. We are actually inviting participants, maybe from the Department of Agriculture and Department of Environment and Natural Resources. Some local executives like the mayor of Palawan, mayor of Hermosa, Bataan, and several mayors in Mindanao will be going with us so they can already find a partner or an investor of their economic zones,” Plaza said.

Investment seminars are scheduled on Feb. 11 and 12 in Riyadh, Feb. 13 and 14 in Dubai, and Feb. 15 and 16 in Qatar.

“PEZA will be doing the investment seminars for investors in these countries and then hopefully we can already find a match to our local investors, specifically the new economic zones created in the provinces and cities of Mindanao because Mindanao is where the majority of our Muslim Filipinos are staying,” she said.

Plaza said the investment roadshow is necessary so that during Duterte’s visit, agreements and investments can already be signed and finalized.

She said businessmen from the Middle East are interested in investing in tourism and agriculture, as well as putting up halal hubs in the country based on her initial meetings with them last year.