MANILA: Saudi Ambassador to the Philippines Muhammad Amin Wali has called on Filipino businessmen to invest in Saudi Arabia as it has a very strong and stable economy and is replete with investment opportunities.
“Philippine investors and its giant companies in the field of contracting and construction are most welcome in the Kingdom particularly at this juncture at which Saudi Arabia is witnessing great construction activities in both the public and private sectors,” said Amin Wali, while addressing a dinner reception at the embassy’s new building in honor of a number of visiting Saudi and Filipino businessmen from the contracting and building investment sectors here.
The reception was held to mark the opening of a new branch office for Saudi businessman Zuhair Fayez in Manila.
“The Philippines is one of the most advanced countries in the world in the field of the skillful, well-trained and cultivated manpower,” the ambassador said.
The function was attended by former Speaker of the Philippines’ House of Representatives Jose De Venecia, Jr., former Planning Minister and incumbent Chairman of the Social Security Organization Romulo Neri, Assistant Foreign Minister Enrique Manalo, GCC ambassadors and a large number of Filipino businessmen.
Neri said that judging by his close follow up of the world economy and the acute financial crisis in a number of countries, it was obvious that Saudi Arabia was not at all affected in any way by the current world financial crisis.
“This is evident from the fact that there are several ongoing mega projects in the Kingdom, which also reflects on the size of the Filipino manpower heading for the Kingdom. This makes us all happy because the financial returns received from these overseas workers will contribute to the economic stability of our country,” he said, adding that this enhances the bilateral business partnership.