Two United Arab Emirates (UAE) companies have pledged to invest over P25 billion in port operations and renewable energy space, Department of Trade and Industry (DTI) acting secretary Ma. Cristina Roque said.
Roque said Dubai-based logistic firm DP World and Abu Dhabi-based clean energy company Masdar reaffirmed their commitments during her visit to the United Arab Emirates (UAE) from Oct. 3 to 5.
"They're also willing to invest up to PHP25 billion in the Philippines. That's the maximum investment they are looking into for port opportunities," she said.
"They also want to invest and look for local partners, but they also want to be able to operate the different ports in the country," she added.
Roque said DP World is exploring port development across the country in addition to its existing project with Asian Terminal, Inc. in Tanza, Cavite.
Meanwhile, Emirati state-owned renewable energy (RE) company Masdar plans to invest at least P600 million in the country.
"They want to get into this kind of business, which is solar, wind, and battery… And then, their minimum investment is P600 million," Roque said.
She said Masdar is scouting for at least 50-hectare property for its RE development in the country.
Masdar has developed several landmark wind farms currently in operation around the world, including the 400-megawatt Dumat Al Jandal wind farm, the largest in the Middle East and the first in Saudi Arabia, and the 630MW London Array offshore wind project in the United Kingdom, according to Gulf News.
In Dubai, Roque also explored opportunities for Filipino brands in leading supermarkets like Al Maya and Carrefour. She visited the SariSari Store, a convenience mart of Filipino products.
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