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Philippines’ investment climate highlighted
Buamim stated that the Philippines has shown a remarkable growth pattern recently and is one of the largest populated countries in the Asian region offering talented work force as Dubai is home to the largest number of Filipinos working and living in the UAE.
Dubai: As part of its initiative to explore investment opportunities in promising markets of the world, the Dubai Chamber of Commerce and Industry in cooperation with the Embassy of the Republic of the Philippines, hosted the Country Focus Briefing: The Republic of the Philippines recently.
The briefing was attended by Hamad Buamim, president and CEO of Dubai Chamber; Grace Relucio Princesa, Ambassador of the Republic of Philippines to the UAE; officials of the International Investment Promotion Service; Philippines Board of Investments and Economist Intelligent Unit (EIU); and a large number of business leaders from the UAE and the Philippines.
Buamim stated that the Philippines has shown a remarkable growth pattern recently and is one of the largest populated countries in the Asian region offering talented work force as Dubai is home to the largest number of Filipinos working and living in the UAE. He called upon Dubai businesses to benefit from the Philippines’ strong growth potential and to look beyond the country’s agricultural potential and to forge new partnerships.
“The Philippines businessmen can use Dubai as their major export hub to reach out to the region and the wider world as the emirate is the third largest re-export centre in the world,” he said. “The emirate’s unique land, sea and air network offers traders the finest transport and logistics options as well as a world-class infrastructure and healthy business climate that facilitates trade and investment flows.”
The president and CEO of Dubai Chamber informed that last year Dubai and the Philippines’ non-oil trade valued Dh2 billion, making the country Dubai’s 68th largest trade partner, while presently there are 508 Philippines partnership/ownership firms registered with Dubai Chamber and operating in Dubai.
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