Philippines’ new economic policies attract Emirati investors

Philippines’ new economic policies attract Emirati investors

Dubai, UAE: His Excellency Benjamin Abalos, Minister of the Interior and Local Government of the Republic of the Philippines, stated that the relationship between the Philippines and UAE is advancing into a new stage of development. Both countries’ leadership is keen on enhancing the bilateral ties, including investment growth in various sectors.

His Excellency, who is on a visit to the UAE, stressed: “The UAE has become a significant trading partner for the Philippines, with a large concentration of overseas Filipino communities.”

The Minister will be inaugurating the Philippines largest international property and investment expo and summit Dubai: the annual Philippine Economic and Investment Summit and the 9th Philippine Real Estate and Investment Exhibition. Both events will take place on May 12-13, 2023, at the Radisson Blu Hotel, Deira Creek.

At the twin events, the Ministry is set to share its visions and strategies, which will greatly impact the Philippines’ position as an attractive investment center for Emirati investments.

The National Economics and Development Authority in the Philippines has recently passed legislation to enable full foreign ownership of public service companies.

Moreover, the country has lowered corporate income tax rates and streamlined fiscal incentives, encouraging foreign investors to invest in the Philippines. Also, foreign retailers