Estrada woos Qatari investments, jobs
Wednesday, June 15, 2011
SENATE President Pro Tempore Jinggoy Ejercito Estrada has proposed an exchange of business delegations between the Philippines and Qatar in anticipation of increased Qatari spending and a surge in the demand for labor.
Estrada, who was in Doha to celebrate Independence Day at the Philippine embassy there, said he has met with Sheikh Faisal Bin Qassim Al-Thani, chairman of the Qatari Businessmen Association (QBA) and of Al Faisal Holding, a vast, multi-million dollar conglomerate there.
The conglomerate is made up of more than 30 companies around the world. Among its investments are in hotel, resorts, and shopping malls. It also has interests in property development, construction, and in electro-mechanical contracting.
Al Faisal is also engaged in education services, medicine, industrial and consumer products trading, refrigeration and air conditioning, electrics, foodstuffs, transportation services, and international investments, Estrada said.
“I am greatly honored to have the opportunity to meet and talk with Sheikh Faisal Bin Qassim Al-Thani and explore possibilities for his group’s investments in the Philippines as well as for their expanded job opportunities for Filipino workers,” he said.
Qatar is expected to spend almost $120 billion in the next 10 years, some of which could go to investments in the Philippines, Estrada said.
He said Sheikh Faisal showed “great enthusiasm” over investment possibilities in the Philippines.
He said Faisal was particularly interested in the tourism sector, infrastructure, and five-star hotels.
He also said that all business opportunities for his holding and for other Qatari businesses “will be greeted with interest.”
Demand for labor in Qatar is also expected to double within the next year, he said, especially with preparations for the 2022 World Cup.
The Philippine Overseas Employment Administration reported 89,290 overseas Filipino workers in Qatar in 2009. (Jonathan de Santos/Sunnex)
Source: http://www.sunstar.com.ph/manila/business/2011/06/15/estrada-woos-qatari-investments-jobs-161339
TRAILER 2
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