Philippines and GCC explore investment

OFW
Overseas Filipino Workers are largely represented in GCC countries

A road show organised by the Arab-Philippine Business Summit (APBS), held on February 4 in Cebu City and on February 5 in Manila, has been drumming up bilateral investment opportunities between the Southeast Asian nation and the countries of the Gulf Cooperation Council (GCC).

The road show, which is also a preparation run for the first APBS on April 9 to 12, 2013, hosted by the Bahrain World Economic Summit in Bahrain’s capital Manama, has been focusing on economic sectors, such as infrastructure, geo-resources, real estate, tourism, skills, handicrafts, agriculture and food.

Apart from Bahrain, other GCC member-countries have said they are also open to investments or collaboration with Filipino entrepreneurs. Filipinos working in Bahrain remitted $151.82 million from January to November last year, about 7 per cent more than in the same period in 2011, the Bangko Sentral ng Pilipinas reported. Filipinos now account for 10 per cent of Bahrain’s population, working mostly as hotel, restaurant and mall employees.

There’s room to grow, however, in the areas of investment and trade. From January to September 2012, the top sources of foreign investments in the Philippines were Japan, the Netherlands and the US.

It emerged that Bahrain is also interested to extend its food, agricultural and fisheries investments in the Philippines and is fond of Filipino food exports such as mangoes, guyabanos and bananas. Additional investments from the GCC to the Philippines could include infrastructure and energy.

The APBS 2013 will be the first and biggest link among the Philippines and Arab countries, with business matching sessions to be part of the activities.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

[caption id="attachment_6800" align="alignleft" width="300"] Overseas Filipino Workers are largely represented in GCC countries[/caption] A road show organised by the Arab-Philippine Business Summit (APBS), held on February 4 in Cebu City and on February 5 in Manila, has been drumming up bilateral investment opportunities between the Southeast Asian nation and the countries of the Gulf Cooperation Council (GCC). The road show, which is also a preparation run for the first APBS on April 9 to 12, 2013, hosted by the Bahrain World Economic Summit in Bahrain's capital Manama, has been focusing on economic sectors, such as infrastructure, geo-resources, real estate, tourism,...

OFW
Overseas Filipino Workers are largely represented in GCC countries

A road show organised by the Arab-Philippine Business Summit (APBS), held on February 4 in Cebu City and on February 5 in Manila, has been drumming up bilateral investment opportunities between the Southeast Asian nation and the countries of the Gulf Cooperation Council (GCC).

The road show, which is also a preparation run for the first APBS on April 9 to 12, 2013, hosted by the Bahrain World Economic Summit in Bahrain’s capital Manama, has been focusing on economic sectors, such as infrastructure, geo-resources, real estate, tourism, skills, handicrafts, agriculture and food.

Apart from Bahrain, other GCC member-countries have said they are also open to investments or collaboration with Filipino entrepreneurs. Filipinos working in Bahrain remitted $151.82 million from January to November last year, about 7 per cent more than in the same period in 2011, the Bangko Sentral ng Pilipinas reported. Filipinos now account for 10 per cent of Bahrain’s population, working mostly as hotel, restaurant and mall employees.

There’s room to grow, however, in the areas of investment and trade. From January to September 2012, the top sources of foreign investments in the Philippines were Japan, the Netherlands and the US.

It emerged that Bahrain is also interested to extend its food, agricultural and fisheries investments in the Philippines and is fond of Filipino food exports such as mangoes, guyabanos and bananas. Additional investments from the GCC to the Philippines could include infrastructure and energy.

The APBS 2013 will be the first and biggest link among the Philippines and Arab countries, with business matching sessions to be part of the activities.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

NO COMMENTS

Leave a Reply