DTI sees Arab investments in food and infrastructure (Business Mirror (Philippines))

The Department of Trade and Industry (DTI) said they have captured the interest of Middle Eastern investors in food and infrastructure.

Trade Undersecretary for Trade and Investments Promotions Ponciano C. Manalo Jr. said the recently concluded investment mission in the United Arab Emirates (UAE) provided a lot of gains.

“We do not want to give names but infrastructure development and food were two things that they were very interested in, especially food. UAE imports 85 percent of their food, so that is where the potential is,” Manalo said.

Manalo also declined to specify the Arab developers and the possible sites being eyed for infrastructure development.

But for food processing and agri-business, the DTI official underlined the importance of certification agencies for Halal products, adhering to the strictest standards and getting proper accreditation.

A Philippine delegation, composed of 44 representatives from 20 investment-promotion agencies, local government units, private businesses, and business organizations, accompanied Manalo during the UAE mission.

A total of 96 ready-to-go investment projects and business proposals were offered to potential investors. Other sectors were promoted, such as manufacturing, agribusiness, industrial estate development, tourism, infrastructure, logistics and energy.

In line with this, the DTI recently participated in the Eighth World Halal Conference and the 11th Malaysia International Halal Showcase.

DTI officials attended the three-day event to further study and explore the Halal Project, Philippiness initiative under the Agribusiness Cluster of the Food and Basket pillar of the Brunei Darussalam-Indonesia-Malaysia-the Philippines-East Asean Growth Area.

Manalo supported the initiative of the Zamboanga City Special Economic Zone to become the countrys foremost Halal ecozone, allotting some 100 hectares of its property for industries in Halal food and product manufacturing.

Manalo said Philippine gross domestic product can be improved by 3 percent if the country can capture even 1 percent of the international Halal market which is currently being estimated at $600 billion.