High-Level Philippine Economic Team goes to Dubai in Latest Global Campaign to Draw Investors
The Philippine government economic team led by Finance Secretary Benjamin Diokno (4th from right), together with, DBM Secretary Amenah Pangandaman (3rd from left), NEDA Secretary Arsenio Balisacan (3rd from right) and Bangko Sentral Deputy Governor Francisco Dakila (end from left)
ABU DHABI 19 September 2023 – The Philippine government economic team led by Finance Secretary Benjamin Diokno together with DBM Secretary Amenah Pangandaman, NEDA Secretary Arsenio Balisacan, and Bangko Sentral Deputy Governor Francisco Dakila conducted the Philippine Economic Briefing (PEB) in Dubai, UAE on 12 September 2023. The PEB was the highlight of the high-level economic team’s mission to the Middle East as it also held official calls, meetings with public and private wealth funds and other events to drum up investments and promote economic relations between the Philippines and the UAE. The Philippine Embassy in Abu Dhabi under H.E. Alfonso A. Ver, Philippine Ambassador to the UAE, in coordination with the Philippine Trade and Investment Center (PTIC) in Dubai helped in organizing and coordinating the entire economic mission.
Around 100 senior executives of UAE-based funds and corporates, business group representatives, industry associations, the financial community, and public sector attended the briefing session.The Philippine Economic Team, joined by Amb. Ver (4th from left), poses with some of the UAE senior executives who attended the Philippine Economic Briefing (PEB). Among the PEB participants include leaders from the UAE Federation of Chambers of Commerce Inc (FCCI) as well as both the Abu Dhabi and Dubai Chambers of Commerce (ADCII and DCII), DP World and Masdar Clean Energy and various financial institutions. According to Amb. Ver (4th from left) that the Philippines' keenness to attract investors is matched by the UAE's business sector's rapidly increasing interest to expand its presence in the Philippines. Sukuk and Islamic financing, new priorities for the Philippine Bureau of Treasury, drew interest from UAE investors.
Among the meetings organized by the Embassy for Sec. Diokno was the call on UAE Minister of State for Finance Affairs H.E. Mohamed bin Hadi Alhussaini to discuss bilateral cooperation on finance matters including the ratification and implementation of the Investment Protection and Promotion Agreement (IPPA), among others.
Likewise, the Embassy facilitated a meeting with Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade,where the two ministers explored enhancement of trade and investment opportunities between the two countries, specially through the signing of the Comprehensive Economic Partnership Agreement (CEPA). As for the one-on-one meetings, among the UAE companies that met with the Philippine Economic Team are National Bonds Corporation,Arqaam Capital, Maybank Islamic Berhad-Dubai, Investment Corporation of Dubai, ADQ, Millennium, Emirates NBD Asset Management, Azimut, Kuwait Financial House, Chimera Investments LLC, Abu Dhabi Investment Bank, and Waha Capital.
One of the highlights of the PH Economic Team's visit was the ceremonial ringing of the bell at NASDAQ Dubai. In the photo are Sec. Diokno with NASDAQ Dubai CEO Hamed Ali as NEDA Sec Balisacan, DBM Sec. Pangandaman, BSP Deputy Governor Dakila and Amb. Ver.
One of the several one-on-one meetings undertaken by the PH Economic Team during its two-day visit. The PH Economic Team looks forward to returning to the UAE to follow-through in the invitations given, per Amb. Ver. END
