747 live DTI wooing UAE firms for potential investments, boost PH exports
INQUIRER FILE PHOTO
The Department of Trade and Industry (DTI) is hoping to strengthen the country’s export performance and rake in more investments from Middle Eastern companies.
Trade chief Cristina Roque recently met with top officials of firms from Abu Dhabi, United Arab Emirates to boost and build the Philippines’ tie-ups with foreign businesses.
Article continues after this advertisementAccording to the DTI, Roque discussed potential investments in the local digital economy with Sirius International Holding, an Abu Dhabi-based firm focused on digital transformation in industries of healthcare, financial technology, nuclear power plants, hospitality, and construction.
FEATURED STORIES BUSINESS BIZ BUZZ: Razon cries foul BUSINESS Missing funds prompt BSP probe of GCash BUSINESS JK Capital Finance locks in P300-million credit guaranteeREAD: PH, UAE resume FTA talks; completion of technical matters eyed this week
The agency said it was part of the government’s efforts to realize “Bagong Pilipinas,” the current administration’s branding that seeks to emphasize an inclusive approach to national growth.
Article continues after this advertisement“To achieve this vision, the DTI pursues high-value investments to boost the country’s technological capabilities,” it said.
Article continues after this advertisementRoque also secured an agreement with the Lulu Group—a conglomerate giant with a presence in the retail sector, including a chain of hypermarkets—for the expansion of Philippine exports to the UAE.
Article continues after this advertisementIt said the Lulu Group, which has 258 stores across the UAE, has vowed to source more products from small- and medium-sized enterprises (SMEs) in the country. The firm also has a logistics and export center in Laguna province.
Aside from the Lulu Group, the DTI also touched base with top officials of Spinneys, a leading supermarket chain in the UAE.
Article continues after this advertisementAt their meeting, Roque said the government would introduce qualified SMEs that Spinneys could tap for additional products they can sell in their supermarkets.
The DTI said teaming up with these companies, like Spinneys, would “promote innovation, create jobs, and provide quality products to consumers.”
Subscribe to our daily newsletter
In October747 live, the Department of Energy also flew to the UAE to score renewable energy investments from power firms there.
READ NEXT PH banks total assets up 11% in September Vitarich income surged 547% to P259M EDITORS' PICK Kouame back as Gilas releases 15-man pool for Fiba qualifiers Millennial midlife crisis is about ‘purpose and engagement’ Nika to exit PAR soon; only 4 areas remain under Signal No. 1 Meralco hikes power rates by 43¢/kWh in November Fitch unit: PH economy to grow by 6.3% in 2025 Questions ‘Arcane’ Season 2 Act 1 left us with MOST READ Comelec to decide on removing regulation of private social media accounts Royina Garma, daughter arrested, detained in California – DOJ BTr fully awards T-bonds Ofel now a severe tropical storm, to steadily intensify over 3 days Follow @FMangosingINQ on Twitter --> View comments