Philippines Invites Bahraini Investment
TDT | Manama
A call to deepen economic ties between Bahrain and the Philippines is gaining momentum, with the Southeast Asian nation extending a targeted invitation to Bahraini investors to explore a range of high-value opportunities across tourism, renewable energy, and infrastructure.
Yesterday, as the Philippines marked its 127th Independence Day, its Trade and Investment Centre in Riyadh reaffirmed the country's commitment to building strategic global partnerships. In an article penned by Philippine Commercial Attaché Vince Lorenzo T. Liwanag, Bahrain was specifically highlighted as a trusted ally due to its long-standing Filipino community of over 55,000 residents.
According to Liwanag, this cultural presence forms a 'trusted bilateral network' and provides a ready-made bridge of familiarity and trust for Bahraini entrepreneurs and entities exploring business in the Philippines.
The article stressed that Bahrain-based conglomerates, sovereign funds, and visionary investors are well-positioned to partner in sectors where the Philippines is actively seeking foreign participation.
The Philippines posted a robust GDP growth of 5.6 percent in 2024, outperforming many regional peers.
This growth was driven by a modernised incentive regime under the CREATE MORE Act and Executive Order 18, which facilitates fast-tracked approvals of high-impact investments through 'Green Lanes'.
Tourism and halal gap
Tourism is among the key sectors targeted for Gulf investment, with the country receiving 5.9 million tourists in 2024 and anticipating a need for 450,000 new hotel room keys by 2028.
Liwanag noted a substantial market gap in halal-friendly hotels and restaurants, especially in popular destinations such as Cebu, Palawan, and Siargao.
Medical tourism and retirement resorts are also flagged as growth areas, leveraging the Philippines' strong healthcare service sector and appeal among older travellers.
Renewables and infrastructure
Another priority area is renewable energy. The Philippines has become the second-most attractive emerging market for clean energy investment, according to BloombergNEF's Climatescope 2024.
With more than $24 billion committed in 2024 alone, renewable energy accounted for 85 percent of the country's Board of Investments approvals.
The country is also rich in green minerals like nickel, cobalt, and copper, with ambitions to locally process these for use in electric vehicles, energy storage, and clean-tech supply chains.
Infrastructure offers further prospects. The government has outlined 173 flagship projects under its 'Build Better More' programme, worth $45 billion. Opportunities are open for Bahraini companies with engineering and construction capabilities to enter through Public-Private Partnerships or direct investment.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Tribune
a day ago
- Daily Tribune
Kingdom Seeks Asian Investment
TDT | Manama Bahrain stepped up efforts to position itself as a key beneficiary of Asian-led infrastructure investment by engaging with top decision-makers during the 10th Annual Meeting of the Asian Infrastructure Investment Bank (AIIB), held in Beijing under the theme 'Connecting for Development and Cooperation for Prosperity'. Leading the Kingdom's delegation, Yousef Abdullah Al-Hamoud, Undersecretary for Financial Affairs at the Ministry of Finance and National Economy, held meetings with bank executives and other high-level officials to expand Bahrain's role in the region's infrastructure development map. Strategic engagement On the sidelines of the summit, Al-Hamoud met with Konstantin Lemtovsky, Chief Investment Officer at AIIB, and Junjing Wang, CEO of the Multilateral Cooperation Center for Development Financing. The discussions focused on enhancing joint cooperation and unlocking new opportunities for financing infrastructure, energy, and logistics projects in Bahrain. The summit, inaugurated by Li Keqiang, Premier of the State Council of China, brought together ministers, investors, and international organisations to address development challenges through strategic partnerships and sustainable infrastructure funding. Support for new leadership Al-Hamoud conveyed Bahrain's support for Ms. Zou Jiayi of China, who was elected by the AIIB Board of Governors as the bank's new President. He welcomed her vision for expanding the bank's contribution to development projects across member states and praised the AIIB's growing role in responding to climate and geopolitical changes. He also reaffirmed Bahrain's commitment to cooperating with the AIIB and aligning its national infrastructure strategies with the bank's regional investment goals. Platform for growth The AIIB, established in 2015, now includes 110 member countries. Its operational priorities span sectors such as transportation, energy, communications, agriculture, and urban development. Bahrain became a member in 2018 and continues to pursue opportunities to attract multilateral financing for strategic national projects. As infrastructure financing becomes increasingly competitive across the region, Bahrain's active engagement at this summit signals a renewed drive to tap into Asia-led development flows.
Daily Tribune
a day ago
- Daily Tribune
Roots Expands Beyond Borders
TDT | Manama 'Roots: Artificial Intelligence and the New Generation' is set to cross continents as organisers announced that its next edition will be held in Washington, D.C., marking the summit's entry into the global technology dialogue. Held at the Bahrain International Exhibition and Convention Centre in Sakhir, the latest edition brought together ministers, researchers, students, and thought leaders from across the Gulf and beyond, reflecting Bahrain's emergence as a regional platform for future-facing dialogue in artificial intelligence. Regional ties deepen The event underscored the growing Bahraini-Emirati partnership in areas such as AI, entrepreneurship, digital education, and media, reinforcing ties between Gulf Cooperation Council (GCC) countries on issues of future professions and innovation policy. Bahrain's Minister of Information, H.E. Dr. Ramzan bin Abdullah Al-Nuaimi, attended alongside prominent figures from the UAE and other GCC states. Their presence lent weight to a summit widely praised by participants for its professional execution and forward-looking content. Groundwork for innovation In-depth discussions covered key areas like AI-driven decision-making, smart education, cybersecurity, and the role of technology in transforming traditional careers. Students and researchers showcased proposals linking AI to health, tech, and education, pointing to practical applications for upcoming generations. A diverse institutional lineup included Bahrain's Ministry of Interior, Ministry of Finance, Royal Police Academy, Gulf University, Arab Open University, and Al-Mabarrah Al-Khalifia Foundation, as well as HH Sheikh Nasser Center for Research and Development in AI. The summit also drew participants from regional and international organisations including Emirates Researchers Center, Wahed Platform, Trevox Digital Media, and African investigations network AfricaLeaks. Its widening footprint now sets the stage for the global edition. Organisers said the next 'Roots' summit in Washington would build on Bahrain's success, carrying forward its message of Arab empowerment in the digital era and establishing a platform for deeper global collaboration. The event concluded with recommendations to launch AI training and research initiatives focused on youth and entrepreneurs, developed in coordination with regional and international institutions. 'Roots' is expected to continue serving as an interactive knowledge hub that connects Arab identity and innovation, uniting policymakers, academics, and youth around shared ambitions in the digital age.
Daily Tribune
2 days ago
- Daily Tribune
US Envoy Hints at New Nations Joining Abraham Accords
U.S. Special Envoy to the Middle East, Steve Witkoff, expressed optimism on Wednesday that more countries could soon join the Abraham Accords — a historic agreement that normalized relations between Israel and several Muslim nations. Speaking to CNBC following a recently brokered ceasefire between Israel and Iran, Witkoff said he was hopeful the region was moving closer to broader peace and stability. 'We believe some significant announcements are coming,' Witkoff said. 'Countries that many never expected to be part of the Abraham Accords are now seriously considering it. That's a key goal for President Trump, and we're working hard to make it happen.' Witkoff played a vital role in the 12-day Israel-Iran conflict that ended Tuesday with a U.S.-mediated ceasefire. He added that the White House is now shifting focus toward building lasting diplomatic ties and possibly even a comprehensive peace agreement with Iran. 'We're hoping to see normalization spread — not just among the usual partners, but across a wider group,' he noted. 'That kind of cooperation can be a real stabilizer for the region.' The Abraham Accords were originally signed in September 2020 during President Trump's first term, establishing diplomatic ties between Israel and the United Arab Emirates, Bahrain, and later Morocco, Sudan. The agreement was seen as a landmark moment in Middle East diplomacy. Both Witkoff and Trump have regularly voiced their belief that the agreement can expand to include more nations. Just last month, at an event marking Israel's Independence Day, Witkoff said he expected 'a lot of announcements very, very shortly,' signaling further diplomatic breakthroughs in the near future.
