MANILA, Philippines -- The world's seventh richest Arab, Mishal Kanoo, has signified interest in investing in the country, particularly in Cebu, Senate President Pro Tempore Jose "Jinggoy" Estrada said Thursday.

Estrada, who had just arrived from the United Arab Emirates, said that aside from meeting Filipinos there, he also met with the 39-year-old Kanoo, who has an estimated personal fortune of $1.7 billion.

In their meeting, Estrada said Kanoo had told him that "My brother visited Cebu recently. We believe that Cebu is a good place to make investment and do business."

The Arabian businessman told him that the Philippines is rich in both natural resources and skilled labor, and would thus not be hard to promote as a destination for international business ventures and tourism.

The only things that discourage Kanoo and other investors, Estrada said, are "heavy traffic" and "poor infrastructure" in urban areas, particularly in Metro Manila.

But he assured the senator that he would continue to hire more Filipino workers, who are known for their hard work and efficiency.

Estrada, who chairs the Senate committee on labor and also the Joint Congressional Oversight Committee on Labor and Employment, said he will ask other foreign employers to adopt Kanoo Group's policy of not charging placement fees to be deducted against the foreign workers' salary.

According to Estrada, the June 29, 2008 issue of Arabian Business places Kanoo as the 22nd most influential Arab in the world.

Kanoo, who is deputy chairman of the Kanoo Group, a Bahrain-based, family-owned business conglomerate with more than a century's worth of experience in shipping, travel, oil, gas and power, logistics, specialty chemicals, and business centers in Arab and European countries.

Estrada was in Abu Dhabi and Dubai to check on the condition of overseas Filipinos there and to lead the free film showing of his movie, Katas ng Saudi.