PCCI sees $2B Qatar investment deals
As much as $2 billion in infrastructure and renewable energy investments are expected to be finalized next year following a four-day trade mission to Qatar sent by the Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization.
PCCI president Enunina Mangio said in an interview that the delegation had secured an initial commitment from JTA Investment Holding, a firm operating in 50 countries with interests spanning tourism, transport, construction and more.
“The PCCI is very active in promoting our country as the best and the No. 1 investment country,” Mangio said, adding that Qatari businesses had also expressed interest in expanding investment in manpower.
Among the proposed ventures is a rail transport system in Digos, Davao, which is slated for completion in three construction phases.
Another is an overhead rail project in Cebu, intended to ease traffic congestion.
Mangio said the mission had also secured commitments to develop a hotel and a resort, as well as explore renewable energy projects.
Officials from the Qatari firm are expected to visit the Philippines in January to assess the viability of the projects. This includes determining potential roadblocks, such as right-of-way issues, before finalizing the deal.
“If there’s no problem, they’re going to finance it,” Mangio said.
The PCCI is preparing project documentation ahead of that visit, she said.
Mangio added that the Qatari government would also be involved in the investment projects.
Mangio said the planned investments had followed JTA’s earlier ventures in Southeast Asia, citing commitments worth around $2 billion in Vietnam and $3 billion in Indonesia.
The Philippine delegation to Qatar included about 40 representatives, among them Mindanao Development Authority Secretary Leo Magno.
The Qatar visit was Mangio’s final overseas mission as PCCI president.
Her term ends this year, with elections for a successor scheduled for Dec. 5.
