Four Arab investors are coming this month to invest in island development, the Philippine Economic Zone Authority said over the weekend.
Peza director-general Charito Plaza said the agency would assist the investors in conducting ocular inspection over the islands of Palawan, Cebu, Bataan and Mindanao to scout for possible sites.
“In fact, one investor would like to invest in four islands for tourism projects. Another wants a 1,000-hectare island for agro-industrial zones,” she said.
These four investors are included in the letter of intent signed between the Philippines and Saudi Arabia during an investment roadshow in the Middle East in April.
Peza appointed special advisers to Saudi Arabia and Qatar who were given special powers of attorney to follow up on the committed investments.
“We want all this to be official, once they [investors] register at Peza,” said Plaza.
