The Department of Trade and Industry (DTI) met with conglomerates Sirius International Holding and Lulu Group International during a trade mission to the United Arab Emirates on Nov. 9, 2024.
The mission meant to explore potential investments and trade partnerships that could drive the Philippines’ digital economy and expand its export market.
Acting Trade Secretary Ma. Cristina Roque highlighted the Philippines as an ideal investment destination for digital transformation initiatives during the meeting with Sirius International Holding, a technology-focused subsidiary of International Holding Company (IHC).
“While no formal commitments were made at this time, the meeting served as a valuable opportunity to showcase the extensive operations of Sirius to the Philippine delegation,” Roque said.
Sirius expressed keen interest in exploring potential partnerships with Philippine companies in related fields. Sirius, a technology-focused company based in Abu Dhabi, manages investments across various sectors, including fishery, nuclear power, construction, healthcare and hospitality.
Roque emphasized the strong demand for Philippine products in the UAE.
Lulu Group, which operates 258 stores across the UAE and has a logistics and export center in Laguna, expressed its commitment to supporting Philippine small and medium enterprises (SMEs) by increasing its procurement of Philippine goods.
The Lulu Group agreed to formalize the partnership through a memorandum of understanding (MOU) which would enhance the visibility of Filipino products in the Middle East.
