Manila eyes better trade, investment ties with Riyadh

RIYADH: A senior government official from Manila, who is on a brief visit to the Kingdom, told Arab News that he foresees a greater economic cooperation between Saudi Arabia and the Philippines with the upcoming exchange of high-level visits between the two countries.
Abdullah Mamao, presidential adviser on OFWs, who arrived in Riyadh from Manila on Sunday, said that negotiations are going on between Riyadh and Manila for a series of bilateral talks for enhanced economic cooperation.
He said the Philippine government is making arrangements for President Rodrigo R. Duterte’s visit to the Kingdom following an invitation by the Saudi government.” These matters are not finalized yet and the date of his visit is not yet known,” he added.
Mamao, accompanied by Abdul Hannan Tago, a journalist in Manila, said the purpose of his current visit is to explore new business opportunities with the Kingdom.
“We have not done much in bilateral trade,” he said, pointing out that there are several areas where the two countries could join forces.
He said the Philippines is interested in harnessing Saudi expertise in manufacturing halal products and there are several infrastructure projects such as construction of railway lines in Mindanao.
He added that his president is keen on encouraging manufacturing industries with the Saudi investments, which could generate adequate job opportunities for his country’s youths.
He said his country was solely concentrating on sending manpower to the Kingdom and now the leadership wants to diversify to new areas of cooperation that could benefit both the countries.
He said that his country is interested in attracting Saudi tourists to the country.
“We are going to appoint an attaché for tourism in the Philippine Embassy in Riyadh,” he said, explaining that such an officer would coordinate matters related to tourism to ensure a safe and comfortable stay in the country.
“We are also seeking a joint venture partnership to set up a Muslim retirement city in the Philippines, which would help the returnees and those who come from the Kingdom to stay there for a longer period.”
Purchasing properties inside such a city would qualify foreigner for a package of benefits, which include long-term residency, education for their children and peaceful living in a cultural environment.
Hannan said that Saudi businessmen have expressed their intent to invest in the Philippines in several areas, which could benefit both the countries.
There are plans to set up an oil refinery with the help of the Kingdom. He pointed out that his country’s president gives top priority to Saudi Arabia and the Kingdom will be his first destination during his Gulf tour.