Middle East firms to invest in Philippine IT-BPO

Middle East firms

As Philippine president Rodrigo Duterte is currently making his state visit in the Middle East, the Philippines is expected to obtain USD650m worth of investments from 18 companies, including those from information technology and business process outsourcing (IT-BPO), in the Middle East. Initial tally of investments revealed that 10 of these agreements valued at USD175m involve companies based in Qatar. These companies would employ around 4,250 people once operational. Four of the companies are keen on establishing retirement villages, whereas two are in IT-BPO. The biggest of the projects involves a USD150m funding for key infrastructure in an ecozone to be undertaken under a joint venture.