The Department of Trade and Industry (DTI) in the Philippines seeks to attract investments from the State of Qatar (Qatar) into various sectors. A particular emphasis is placed on opportunities within the halal industry.
DTI Secretary Alfredo Espinosa Pascual highlighted Qatar’s potential to boost critical sectors like agribusiness and renewable energy, as well as infrastructure and public-private partnership (PPP) projects.
Pascual also mentioned prospects in artificial intelligence (AI), information technology, and business process management (IT-BPM), as well as manufacturing, oil and gas, processed and speciality food (halal food), and tourism.
The Philippines’ focus on these sectors is sensible, as each plays an essential role in building a comprehensive halal ecosystem. They ensure that all stages of production, certification, and distribution adhere to halal standards and meet consumer expectations.
According to Pascual, the halal industry’s growth potential largely depends on the nation’s strategic efforts to streamline halal certifications. There is a focused effort to simplify and shorten the certification process for Philippine halal products destined for Qatar.
The goal is to lessen the administrative challenges faced by exporters and create smoother trade channels between the Philippines and Qatar. This approach is intended to improve trade efficiency and strengthen economic ties between the two countries.
“We are actively working towards establishing the Philippines as a manufacturing and logistics hub in Asia, particularly for halal products,” said Pascual.
He also spoke to Gulf Times about the Philippine government’s intent to seek Qatari investments, particularly in the renewable energy sector. This strategic move attempts to boost energy self-reliance and mitigate climate change impacts.
As of December 2022, the Philippines had approved 1,002 renewable energy projects. These projects include significant investments in wind and solar technologies.
Besides that, Pascual also discussed the importance of the IT-BPM sector to the Philippine economy. In fact, the IT-BPM industry was valued at US$35 billion in 2023 and employed 1.7 million people.
According to the IT and Business Process Association of the Philippines (IBPAP), the sector is projected to reach US$59 billion by 2028. This sector supports industries essential to the aerospace, automotive, and electronics supply chain.
The DTI also prioritises PPP infrastructure projects, particularly in renewable energy, waste management, logistics, and disaster mitigation. These sustainable infrastructure projects are crucial for achieving global clean growth and climate resilience and present significant investment opportunities for Qatari companies.
Under President Ferdinand ‘Bongbong’ Romualdez Marcos Jr.’s administration, there is a renewed commitment to expanding its infrastructure program, now renamed ‘Build, Better, More’.
Through this initiative, Marcos approved 198 high-impact flagship projects worth P8.8 trillion (US$155 trillion). These projects aim to drive economic growth and establish the Philippines as Asia’s leading halal product manufacturing and logistics hub.
Additionally, there is a concerted push to simplify and expedite the certification processes required for Philippine products destined for Qatar.
Streamlining these certification procedures aims to lighten the administrative load on exporters and create smoother trade pathways between the Philippines and Qatar. This strategy aims to foster greater trade efficiency and bolster economic ties between the two nations.
