Qatar-based JTA International Holding plans to invest $3 billion in the Philippines across several sectors including energy, tourism and technology, the company’s founder and chief executive said Tuesday.
The Doha-headquartered firm, which operates in 50 countries and manages 20 subsidiaries, is seeking local partnerships for its first venture into the Philippine market.
JTA International Holding founder and chief executive Amir Ali Salemi disclosed the investment plan during a press briefing organized by the Philippine Chamber of Commerce and Industry.
Salemi said the decision followed a trade mission in Doha where the firm invited Philippine business representatives to explore potential projects. The company expects to return in March to further assess these opportunities and move toward formalizing its investment plans.
“During one of our trade missions in Doha, we invited Philippine business representatives to Qatar. Through meetings and presentations, we were able to capture the interest of companies here and explore potential projects for investment,” he said.
In Cebu, the company is evaluating $1 billion worth of projects. These include two 5-star hotels with condominium units, a resort and a hotel-casino development.
Potential investments totaling $2 billion are slated for Manila and other parts of Luzon. These initiatives include a tertiary hospital with diagnostic facilities, solar energy projects, and a technology hub in Pampanga in collaboration with Converge.
Salemi also cited infrastructure interests in Mindanao, including an international port in Davao and a potential public-private partnership bid for an international airport in General Santos City.
“The Philippines presents many opportunities. We have faced numerous challenges in the Middle East and know how to work around them. Here, we see significant possibilities and are confident in the potential for collaboration and investment,” Salemi said.
