The Philippines and Qatar are planning to put up a $1-billion joint investment fund as Qatar expressed keen interest to do more business in Manila, particularly in tourism, energy and infrastructure.
Presidential spokesman Edwin Lacierda said yesterday there had been a fruitful dialogue between President Aquino and the Emir of Qatar Shiek Hamad bin Khalifa Al Thani, who cut short his two-day state visit in the country after spending four hours in Manila.
Lacierda said there was a memorandum of understanding signed by the Department of Trade and Industry and Qatar Holding Limited Liability Corp. where a provision was included that “parties would explore investment opportunities in the Philippines” in various sectors including natural resources, commodities, energy, agriculture, infrastructure and to study the establishment of the fund whose authorized capital would be in the range of $1 billion.
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