Qatar to undertake agri and fisheries ventures in RP
Qatar has expressed interest in investing in agricultural and fisheries projects in the Philippines, among other business ventures that are expected to draw more Qatari investments to the country.
No less than the Emir of Qatar, Sheikh Hamad Bin Khalifa Al-Thani, told President Gloria Macapagal-Arroyo of his country's interest in undertaking agricultural and fisheries ventures in the Philippines during their bilateral meeting at the Emiri Diwan Royal Palace on Sunday.
During their meeting, President Arroyo also extended a formal invitation to the Emir to visit the Philippines, which he gladly accepted. No dates, however, have been set but the Emir's Philippine visit is expected to materialize next year.
Qatar, which imports most of its agricultural requirements from various countries, is strengthening its economy by diversifying into new asset classes. The diversification program is being carried out by the government-owned Qatar Investment Authority (QIA).
The President immediately directed the Department of Agriculture (DA), through DA Secretary Arthur Yap, to come up with the needed project proposals that would respond to Qatar's requirements.
Qatar has taken the first big step toward what is expected to be a growing presence in Philippine business and trade when it entered into a joint venture with Qatar Telecom (Telcom) in the wireless broadband business.
The joint venture, which was signed Sunday (Dec. 14) as part of President Arroyo's three-day visit here, joins the Philippines' biggest diversified company and Qtel, Qatar's biggest telecommunications firm, under one group in their Southeast Asian operation.
The strategic partnership will set the course for the two companies to begin exploration of joint opportunities in the wireless broadband, mobile and mobile broadband sectors in the Philippines.
The government-owned Qtel operates in 16 countries and is "already actively engaged in extending its wi-tribe brand, which supports the provision of broadband wireless services for emerging markets. Wi-tribe has already realized significant success in providing Wi-MAX services in Jordan, and is in the process of rolling out new offerings for Pakistan," a company statement issued Sunday said. (PNA)