The Philippines signed $580 million worth of investment prospects with Dubai-based industries during the Philippine National Day in the United Arab Emirates, an important leg of the Expo 2020 Dubai.
Trade Secretary Ramon Lopez said the freshly-signed investment pledges would generate 3,920 jobs in the Philippines.
“Several UAE companies have signified strong interest to invest and explore business opportunities in the Philippines by signing letters of intent and memoranda of understanding,” he said.
Signed over the weekend were one MOUs and three LOIs signifying the interest of Dubai industries to explore retail of medical equipment and other consumer goods. Dubai investors are also eyeing investments in dairy production, theme park development and renewable energy projects, Lopez said.
The DTI and the Board of Investments brought Making it Happen in the Philippines, the Philippine investment forum, to Expo Dubai 2020 in search of fresh investments.