The Department

The Department of Finance (DoF) on Wednesday said Qatar may want to discover the tourism, logistics,
pharmaceutical, and housing sectors in the Philippines once the deliberate Manila go to of a enterprise delegation from the Middle East u . S . A . Pushes through.

In a assertion, the DoF introduced that a delegation from the Qatar Investment Authority (QIA) will go to Manila in September to scout for business offers following the a hit go to of President Rodrigo Duterte to the Gulf state last month.

The QIA, the sovereign wealth fund of Qatar, manages and invests the country’s sales surplus in multibillion dollar funding deals throughout the globe. It said Qatar Ambassador to Manila Ali Ibrahim A. I. Al-Malki knowledgeable Finance Secretary Carlos Dominguez third of the scheduled visit all through a current assembly.

Dominguez informed the ambassador that the QIA can explore investments in such fields as tourism and logistics, the DoF said.

“There are many regions where we want tourism centers. We will welcome investments from your fund in that region,” Dominguez became quoted as pronouncing.

“We are an archipelagic country, so Qatar can also inspect investing in logistics—delivery—here,” he delivered.
Dominguez additionally stated Qatar can make investments within the pharmaceutical industry and the housing area.

The QIA delegation will probably meet the Philippine Chamber of Commerce and Industry and other business businesses, the DoF said.

In the meeting, Dominguez additionally discussed with the ambassador the Philippine government’s choice for a hybrid public-personal partnership (PPP) method.

Under a hybrid PPP mode, the government selects, budget and builds large-ticket initiatives thru competitive public bidding and, upon completion, auctions off their operation and upkeep to the personal zone.

Dominguez had stated that adopting a hybrid system is the fastest and maximum fee-effective manner of utilising the PPP mode.

The Qatar ambassador is planning to prepare a tourism expo in Qatar showcasing the Philippines, as Qataris do no longer realize much about the country as a traveller destination, the DoF said.

The Finance branch also said the Qatar envoy extended his country’s way to the Philippine authorities for the “very a success” go to of President Duterte to the Middle East in April. An investment protection and advertising agreement among the two countries, which took 10 years to finalize, turned into signed throughout President Duterte’s visit, beginning some $1 billion in feasible investments from Qatar thru the QIA.

Qatar is the arena’s largest exporter of liquefied herbal gas. According to the Sovereign Wealth Fund Institute, Qatar’s wealth fund is the 14th biggest within the international.

Besides the “Agreement on Reciprocal Promotion and Protection and Investments,” which secured for the Philippines an initial $206 million in commercial enterprise offers from Qatar, the 2 international locations also signed at some stage in President Duterte’s April go to three different agreements on cultural cooperation; fitness and studies; and technical-vocational training and schooling.