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By Sam Mediavilla, Reporter
President Arroyo on Tuesday
expressed joy over the decision of Prince Al-Waleed of Saudi Arabia
to invest in the Philippines particularly in the tourism industry.
Mrs. Arroyo branded the said
investment in the country of Al-Waleed’s group as a vote of
confidence from the Middle East, which is a bastion of national
interest for Filipinos because of the presence of more than a
million overseas Filipino workers in Saudi.
She announced the Saudi Prince
had visited Malacañang following his meeting in Makati City, where
Al-Waleed expressed interest to expand business opportunity in the
Philippines particularly in tourism-related businesses.
Al-Waleed is a member of the
Saudi Royal Family and ranked by Forbes as the 8th richest man in
the world and the richest Arab with net worth asset estimated at
US$20 billion in 2006.
The President recalled Al-Waleed’s
visit to the country was the fruit of her visit to Saudi in 2006.
She is optimistic that the Saudi
Prince’s stay in the country will bring more good investments to
Filipinos noting “he is known to be able to identify good
investments before others do. So he’s a trendsetter and he’s
very enthusiastic about the Philippines.”
Al-Waleed, who reportedly amassed
his fortunes through investments in property and stocks, is
interested in developing beaches in the Philippines.
Mrs. Arroyo on Monday night
provided Al-Waleed the map of the whole central Philippines where
the bulk of tourists go.
“He asked one of his top
executives to see where the airports are located, where the airports
are being constructed in central Philippines. And then they will
look for what tourist area around those airports they would put up
there,” she added.
She identified these provinces
that made up central Philippines such as the Visayas, Bicol, Palawan,
Romblon, Camiguin and Siargao.
The President also articulated
the Philippine government’s gratitude that as Filipinos help build
the mega-modern cities in the Middle East investors from there are
taking a closer look at the Philippines.
“We shall match the growing
confidence in our country with stronger action to build the
infrastructure, generate incentives as we promote law and order,”
she added.
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