The Philippines and the United Arab Emirates (UAE) are set to expand trade and investment cooperation following a meeting between President Ferdinand R. Marcos Jr. and UAE Minister of Investment Mohamed Hassan Alsuwaidi at Malacañang Palace. Discussions centered on new investment opportunities across multiple sectors, including infrastructure, telecommunications, renewable energy, and data centers.
The UAE has been an important economic partner for the Philippines, ranking as the 18th largest trading partner in 2023 and 25th in 2024 with investments totaling around USD 1.5 million (PHP 82.59 million) from January to September. Key focus areas for future collaboration include agribusiness, artificial intelligence, business process management, and energy efficiency technologies.
A significant milestone in bilateral cooperation was the USD 15 billion renewable energy investment agreement signed on Jan. 15, 2025, between the Philippines’ Department of Energy, the Board of Investments, and UAE state-owned Masdar. The deal will support the development of solar, wind, and battery energy storage systems in the Philippines, targeting a total capacity of one gigawatt (GW) by 2030.
In addition, the Department of Trade and Industry and the UAE Ministry of Investment signed a memorandum of understanding in November 2023 to support high-capacity data center projects, with companies such as Edgnex Data Centres already planning investments. The strengthened economic ties reflect the Philippines’ growing appeal as an investment destination in the region.
(Source: Philippine News Agency)
