RIYADH, 11 November 2007 — Pointing out that some major Saudi businessmen, including Prince Alwaleed ibn Talal, have invested in the Philippines, a senior Philippine diplomat has called on prospective Saudi investors to explore trade and investment opportunities in the Philippines, including Mindanao, in the south.

Addressing the 2nd Integrated Mindanao Economic Forum (IMEF) at the Philippine Embassy in the Diplomatic Quarter on Friday, Nestor N. Padalhin, deputy chief of mission and consul general, said on behalf of Ambassador Antonio P. Villamor — who is in Jeddah to attend the OIC-mediated peace talks between the Philippine government and the MNLF — that Prince Waleed bin Talal’s multimillion investment in the Philippines in hotel sector is a good indication and would encourage more Saudi to invest in the country particularly in Mindanao. Saudi businessmen can apply freely for a renewable 21-day visa, adding that others even travel there without getting visa from the embassy.

The Philippine Embassy here yesterday said that most frequent visitors to the Philippine are Saudis, Padalhin said.

Answering questions from the Saudi attendees regarding guarantee that the embassy could render to Saudi investors going to Philippines, Padalhin said that Saudis should go there first and see for themselves. “I have so many Saudi friends who visited the country and return with good impression and history to tell,” he added. He said the 2nd IMEF was timely, especially at the moment during which two countries are witnessing mutual business trade trips.

The first IMEF last May was held when DTI trade mission from Mindanao was here. After that many trade missions occurred.

The event entitled “Mindanao: Island of Natural and Human Resources” was attended by a number of Saudi businessmen, including Abdullah Al-Hamoudi of the Muslim World League, Abdullah Al-Qahtani, general manager of Al-Qahtani Group, Abdurahman Al-Rajhi and a representative of Al-Hamrani Trading and Import Company. A large number of OFWs and members of the Philippine diplomatic corps in Riyadh were also present.

The 2nd IMEF is sponsored by Arab News in collaboration with Abullah Al-Qahtani Group, Hamrani Trading and Import Company, Qatar Airways and the First Philippine School in Riyadh IPSR as co-sponsors. A large number of Saudi businessmen were present.

In his presentation entitled “Mindanao, an Attractive Base for Trade and Investment: Opportunities and Challenges,” IMEF Chairman Dr. Omar Mababaya described Mindanao as an island endowed with rich resources and immense potential for growth in terms of trade and investment in view of its proximity to the ASEAN region and the Asia-Pacific rim. The island’s competitive advantage lies in its huge potential in terms of agro-business, tourism and service industries that should attract Saudi investors, Mababaya said.

IMEF President Abdul Hannan Tago, who also moderated the open forum, including Arabic, said the objective of the forum was to highlight the economic and human resources of the Philippines in general and Mindanao in particular. It was meant to facilitate business partnerships between the two countries’ investors so that they could exploit its untapped wealth for the benefit of the two countries. The IMEF, he pointed out, also seeks to revive the Arab merchants’ historical roots.

IMEF Vice President for External Affairs Elias Mua dwelt on the IMEF’s short-term livelihood courses. He said Mindanao, popularly known as the land of promise, has one of the largest steel plants in Asia. It also had a large fishing industry complex in the world.

He noted that the Philippines has a skilled manpower base. “We were the first ‘China’ in business during the 60’s, 70’s and 80’s. Most of all, we were the trendsetters and leaders in manpower or human resources development and training.”

Elias said IMEF would be offering next year a series of voluntary and nonprofit programs seminars, workshops and training programs, besides free advisory and consultancy, online educational programs and promoting trade and investment. “We are looking for sponsors who could extend their financial support to these programs,” he said.

On this occasion, Qatar Airways which operates a service to the Philippines three times a week, said every week “Qatar Airways flies to over 80 destinations worldwide. Effective Nov. 27, the airline will launch four flights a week non-stop from Doha to Stockholm, making the airline the first from the Gulf region to serve Scandinavia. Qatar Airways is also planning to launch its second 2007 winter route on Dec. 12, with daily non-stop flights to Ahmedabad in the west Indian state of Gujarat, taking the airline’s capacity to India to 51 flights a week across eight cities.”