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FINANCIAL NEWS
Philippines may attract USD1.5b Gulf investments
12 Jan 2012
(MENAFN) The Philippines government eyes investments totaling USD1.5 billion from Qatar and Kuwait this year, with focus on infrastructure, agriculture, tourism and energy sectors, Reuters reported.
Manila’s Trade Undersecretary Cristino Panlilio said that Qatar Investment Authority was looking in the nation’s agriculture, energy and tourism sectors, adding that plans may be discussed during a state visit later this month by the emir of Qatar.
The official also said that Kuwait and Gulf Link Holding Co (KGL) committed a USD500 million investments, with eyes on the tourism, business outsourcing, and infrastructure sectors.
The KGL Group previously invested USD200 million in Global Gateway Development Corp, a private firm constructing the USD2 billion Gateway Logistics Center at the Clark Export Processing Zone in Pampanga province, north of Manila.
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