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Trade Dep't: Abu Dhabi SWF looking into PPP possibilities in PHL

December 13, 2012 4:11pm
Abu Dhabi businessmen are “looking at” opportunities in the Philippines, particularly the government's public-private partnership projects, a Trade official said Thursday.

"They are seriously looking at the Philippines and they are interested in PPP projects as well as tourism and hotel facilities," Trade Undersecretary Cristino Panlilio said in a chance interview.

The Abu Dhabi Investment Authority, which manages the emirate's sovereign wealth funds, led a mission to the Philippines a few days ago.

“In their visit here, they liked what they saw," said Panlilio, though he did not mention if the delegation made any investment commitments.

ADIA invests in all the international markets, including equities, fixed income and treasury, infrastructure, real estate, private equity and hedge funds.

In October, DTI Secretary Gregory Domingo visited the Middle East and met with UAE hotel, automotive and real estate conglomerate Al Habtoor Group. The Philippines also negotiated with the Gulf states' aviation authorities, particularly Emirates and Etihad airlines, to increase the frequency of flights between the United Arab Emirates and the Philippines.

Panlilio earlier said the Philippines is receiving an unprecedented number of inbound missions from potential investors.  "I believe we are in the radar of every significant country in world today,” he said in a statement. — BM, GMA News
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