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UAE construction companies are keen on helping the Philippines in its Build, Build, Build program

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MANILA, PHILIPPINES – United Arab Emirates (UAE) construction companies are “very interested” in participating in the Build, Build, Build infrastructure flagship project despite President Rodrigo Duterte’s term expiring in mid-2022.

In a radio interview on Wednesday (Feb. 16) evening, Department of Trade and Industry (DTI) Secretary Ramon Lopez stated that he is confident that the Build, Build, Build program will be continued in the next administration, giving foreign investors confidence to continue investing in the construction industry.

“We told them that many presidentiables are saying that Build, Build, Build will be their platform also. That’s why they can expect that this program will continue as they have seen the success of the Build, Build, Build under the administration of President Duterte,” he added

Lopez was in Dubai on official business, celebrating the Philippines’ National Day at Expo 2020 Dubai.

He also met with high-level officials from the UAE, where they signed agreements to further strengthen the two countries’ economic ties.

The conclusion of the Investment Promotion and Protection Agreement (IPPA) to facilitate investment flow between the Philippines and the UAE is one of the outcomes of the trip.

Lopez stated that now that the IPPA has been completed, the two countries will sign the agreement.

The DTI chief added that through the IPPA, the Philippines aims to get a good share of investments from the Middle East country as it has a sovereign wealth fund of around USD1.3 trillion.

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