RIYADH: The Philippines government has called on Saudi business to invest in that country's agriculture, energy and infrastructure sectors. The call was made Sunday by Jejomar Binay, Vice President of the Philippines, during a meeting with businessmen at the Riyadh Chamber of Commerce and Industry. Binay cited various incentives and guarantees provided by the government for investors. Besides its natural resources, the Philippines was an attractive location for investments, he added. “We are happy to be here at the Riyadh Chamber and we hope the visit will be the start of more commercial and investment cooperation; and to raise the volume of trade between the two countries.” Sa'ad Al-Ajlan, a member of the chamber's board of directors, said Saudi investors are looking forward to exploit available opportunities, noting that “there are opportunities for constructive cooperation in projects that will benefit both friendly countries”. He said the value of trade rose from about SR4.75 billion in 2003 to SR18.41 billion in 2008. It retreated to SR6.41 billion in 2009 due to the impact of the global economic crisis. Binay was received earlier by Prince Salman Bin Abdul Aziz, Emir of Riyadh Region, who welcomed him and wished him a pleasant stay in the Kingdom. During the meeting, they discussed a number of topics of interest to the two friendly countries. The meeting was attended by Awwad Bin Saleh Al-Awwad, Adviser to the Governor and Izz Al-Din Tajo, the Charge D'affaires at the Philippine Embassy in Riyadh.
