$925 million, that’s how much President Rodrigo Roa Duterte
in total prospective investments brought back in the country after his
three-nation swing (Saudi Arabia, Bahrain, and Qatar) in the Middle East last Holy
week.
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| President Rodrigo Roa Duterte brought home $925 million prospective investment for the country from his three-nation swing in the Middle East(photo by :Presidential Communications) |
The breakdown of investments are as follows:
Saudi Arabia- USD469
million with respect to pharmaceutical, medical tourism, property development,
ports warehouses, agri-industrial economic zone, tourism, and halal food
processing.
Bahrain- USD250 million, agreement signed between Nader
&Ebrahim Sons of Hassa Company WLL and AMA Group Holdings Corp., which will
be expanding in the next three to five years 10,000 hectares of agricultural
land in Davao. All of which are geared for the increase of banana, pineapples all
geared for the export market. Target is to produce atleast 560 metric tons per
year with a value of USD280million.
Qatar- USD206 million with respect to the creation of a
retirement village (in Romblon,and Cebu), information and technology economic
zone, medical tourism, poultry, halal food processing, digital marketing,
manufacturing of coco fiber in South Cotabato, manufacturing and export of
nanostructured carbon, and agro-industrial economic zone in Palawan.
Apart from these commitments, the country is set to sign an
Investment Promotion and Protection Agreement (IPPA) with Qatar to facilitate a
$1 billion investment facility from Qatar’s sovereign wealth fund which will be
used for developmental projects such as agriculture and infrastructure projects
in Mindanao.
“On the IPPA we will sign with Qatar, it will basically
provide internationally recognized investors rights and safeguards,” Trade
Secretary Ramon Lopez, part of the President’s delegation.
“Qatar investors
will not be disadvantaged and it will facilitate identification of
opportunities and entry of investments,” he added.
The Trade Secretary is expecting 26,000 jobs will be
generated from all of these investments.
All in all, Lopez said the Middle East visit allowed the country
to enhance bilateral cooperation with Saudi Arabia, Bahrain, and Qatar through
more trade and investments.
Military Support
One of the highlights of the the three-nation swing is the
President promised of military support for the three countries.
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| The President with his trademark Duterte fist with the 9th Infantry Division based in Pili, Camarines Sur.The President promised to send Filipino troops, despite this 3 countries being some of the richiest countries in the world and with a very respectable military firepower.(photo credit to the owner) |
In Saudi, his military support was in general terms,saying
that the Philippines is a “loyal friend” of the Kingdom.
In Manama, capital of Bahrain in a business meeting “I said
that if you [the Bahrain government]need us, you just call and if you want, if
things break loose, I hope [they]will not, I pray to God that [they]will remain
fundamentally on the side of the Middle East this time. But [if]there’s a
violent activity going on… we are ready to help you” President said.
In Doha, Qatar, the President committed troops from the Armed
Forces of the Philippines to ““protect and defend” Qatar, a “hereditary
monarchy.”
All statements of the President re the sending of Filipino
troops in the Middle East region has been clarified by his National Security
Adviser – “ no military operational deployment” in the Middle East partly
because the country is a member of the Coalition of Maritime Forces (CMF).
We send observers to that,” he said of the CMF, which is
composed of 31 countries, including the Philippines.
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