Dubai World Eyes Investments In Philippines

July 15, 2007 at 6:54 pm | Posted in Uncategorized | Leave a comment

The chairman of the Dubai World, Sultan Ahmed Bin Sulayem

MANILA (Mindanao Examiner / 15 Jul) – As they say “The Sun Never Sets In Dubai World,” and that could probably be true for the Philippines because Dubai World, one of the biggest holding company in Dubai has shown interest in investing in the country.

The chairman of the Dubai World, Sultan Ahmed Bin Sulayem, has met President Gloria Arroyo and they held talks that covered Dubai World’s interest in exploring investment in the Philippines in areas of Ports, Free Zones, property development and the hospitality sector.

And President Arroyo expressed her support for any investment opportunities the Dubai World could create in the country.

The Sultan’s visit Friday in Manila was arranged by Cebu Gov. Gwendolyn Garcia, following her visit to Dubai in June, when she discussed investment opportunities with senior Dubai World Executives.

“We had a very successful meeting with Her Excellency, President Gloria Arroyo and we welcome the support she has promised to Dubai World’s involvement in infrastructure development programs in the Philippines.”

“Dubai World sees immense potential for growth in this country and we will actively explore the investment opportunities that are emerging here. The Philippines market will be considered an important part of our growth strategy for Asia,” the Sultan said.

The Sultan led a high-level delegation on a courtesy visit to President Arroyo in the Malacanang Palace. He was accompanied by the UAE’s Ambassador to the Philippines, Mohammed Ibrahim Al Juwaid, Mohammed Sharaf, CEO, DP World, Peter Wong, DP World’s Asia Pacific Director, and Suhail Al Banna, Executive Vice President of DP World’s Asian Terminals.

They also went to Cebu province in central Philippines where they held discussions with Gov. Garcia that focused on building business relationships between the two sides. He also addressed a business gathering organized by the Cebu Chamber of Commerce and Industry.

“We are very excited about the prospects of our visit to the Philippines, especially to Cebu. We want to do something in this beautiful island, and strengthen the bonds between the UAE and the Philippines.

During our talks we identified several potential areas for investment and we will be studying them in depth to develop viable investment options,” the Sultan said.

Dubai World manages and supervises the portfolio of businesses and projects for Dubai Government and works towards making the country the leading hub for the commerce and trading industry.

Dubai World contributes to the rapid economic growth of Dubai across a wide range of strategic industry segments ranging from real estate concepts; the iconic development of The Palm, DP World the third largest port operator in the world to segments as diverse as investments, leisure and financial services.

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