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Satyendra Pathak
Doha
Philippines has taken several steps to establish the country as an ideal destination for foreign investment, Philippines President Rodrigo Roa Duterte said on Saturday.
Addressing Qatari businessmen during the Philippines-Qatar Business Forum in Doha on Saturday, Duterte assured Qatari investors of all support in making their investments secure and profitable in his country.
"I can assure you that you won't have to face any corruption in Philippines. We have brought several changes to make the process of foreign investment easy and smooth," the president said.
"Our ministers, officials are very competent and honest. Your investment will be protected. We will see to it that your investments are profitable too," he added.
Duterte took the opportunity to hail Qatar for providing jobs to thousands of Filipinos.
"Qatar is a very important country for us as it protects the national interest of Philippines. Hundreds of thousands of Filipinos work here. We are ready to send more workforce if required," he said.
Qatar Chamber Vice-Chairman Mohamed bin Ahmed bin Towar al Kuwari, who led the Qatari side during the forum, said that relations between Qatar and Philippines were characterised by convergence of views on many international trade issues.
Though the two countries are yet to emerge as major trade partners, he said, there was immense potential to increase trade volume.
"The trade volume between the two countries is still below expectations. It reached QR218 million last year. Philippines is the 26th trade partner to Qatar. We need to improve our trade ties," Kuwari said.
"Over 200 Philippine companies are operational in Qatar in many fields. I take the opportunity to invite you to increase your presence in Qatar and build more joint ventures with Qatari businessmen," he said.
"Qatar pays attention to Asia as a vital and important party in promoting regional and global economy, as well as an important destination for investments. There is keenness and interest from Qataris to discover new destinations of investments. Qatari businessmen are known to be more liquid and aggressive in investing overseas these days," he said.
Kuwari said that Qatari businessmen were interested in exploring opportunities for investment in Philippines.
