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.

According 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.

READ: 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.

“To achieve this vision, the DTI pursues high-value investments to boost the country’s technological capabilities,” it said.

Roque 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.

It 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.

At 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.”

In October, the Department of Energy also flew to the UAE to score renewable energy investments from power firms there.