DTI counting on Gulf investment in Islamic banking, halal industries
THE GOVERNMENT delegation to the summit with Gulf leaders will pursue investment in the Philippine halal and Islamic banking industries, Department of Trade and Industry (DTI) Secretary Alfredo A. Pascual said.
President Ferdinand R. Marcos, Jr. is visiting Riyadh this week to participate in the summit between Southeast Asian and Gulf leaders.
The Philippine delegation is also sounding out possible Gulf investment in medical tourism, energy, and petrochemicals, Mr. Pascual said in a phone interview, adding that invitations to invest will be extended in roundtable meetings.
Mr. Marcos flies to Saudi Arabia today (Oct. 19) for the first-ever summit between the Association of Southeast Asian Nations (ASEAN) and the Gulf Cooperation Council (GCC) on Oct. 20, over a decade after the first ministerial meetings between the two organizations in Bahrain in 2009.
Mr. Marcos is expected to hold a bilateral meeting with the Saudi government and businesses, Foreign Affairs Assistant Secretary Daniel R. Espiritu has said.
He noted the Saudi government’s “assistance” in developing the Bangsamoro region in the southern Philippines.
Mr. Marcos’ visit to Saudi Arabia will be his ninth foreign trip this year, and the 15th since he assumed office in June 2022.
He is set to fly to the US in November for the Asia-Pacific Economic Cooperation Economic Leaders’ Meeting, and to the United Arab Emirates in December for the United Nations Climate Change Conference. — Kyle Aristophere T. Atienza
