The Philippines and the United Arab Emirates (UAE) have reaffirmed their commitment to strengthening economic relations by expanding trade and investment opportunities between the two nations.
UAE Minister of Investment Mohamed Hassan Alsuwaidi met with President Ferdinand Marcos Jr. at Malacañang on Friday to discuss areas for deeper cooperation. President Marcos welcomed the UAE’s growing interest in the Philippine market, stating that the visit underscored both countries’ determination “to work together more closely than we have had in the past.”
Alsuwaidi, in turn, acknowledged the significant contributions of Filipino professionals in the UAE, particularly in the healthcare sector. “The relationship between the Philippines and the UAE is very deep,” he said, highlighting the need to explore more investment ventures.
“After having discussions today, we really don’t understand why we haven’t historically invested more,” Alsuwaidi remarked, citing opportunities in infrastructure, industrial mining, telecommunications, data centers, renewables, and healthcare.
The UAE was the Philippines’ 18th largest trading partner in 2023, with approved investments reaching PhP376.71 million that year. From January to September 2024, UAE investments totaled PhP82.59 million, ranking 25th. Key sectors targeted for UAE investments include agribusiness, renewable energy, infrastructure, artificial intelligence, and information technology.
Recent agreements have bolstered this partnership. In November 2023, the Department of Trade and Industry and the UAE Ministry of Investment signed a Memorandum of Understanding to develop high-capacity data centers in the Philippines. UAE firms, including Edgnex Data Centres, have already expressed plans to invest in such projects.
Additionally, in January 2025, the Department of Energy (DOE), the Board of Investments, and UAE-based Masdar inked an Implementation Agreement for solar, wind, and battery energy storage systems, targeting a total capacity of one gigawatt by 2030 with an investment of USD 15 billion.
The strengthened partnership follows President Marcos’ visit to the UAE in November 2024, where he met with UAE President Sheikh Mohamed bin Zayed Al Nahyan. During their discussions, both leaders expressed a shared vision of expanding bilateral ties beyond traditional sectors and into emerging industries.
