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Three major companies from the oil-rich kingdom of Saudi Arabia are looking to invest in the Philippines. This include a leading plant construction and maintenance company and the largest financial institution, who all made assurances to President Gloria Macapagal Arroyo.

Presidential Spokesperson Lorelei Fajardo said, as she quotes Trade Secretary Peter Favila, representatives from Al-Zuwaidi, Al-Zamil and Rawabi Group of Companies are interested in investing in the country as they are exploring the possibility of developing “mutual growth in investments” between Saudi Arabia and the Philippines.

The three business executives of the Al Khobar-based firms paid courtesy call on the President on Monday afternoon (Saudi time) at her Presidential Suite at the Gulf Royal Palace in Al Khobar province. During the meeting, Favila said, they expressed willingness to open their doors to Filipino workers, whom they said are “hardworking, very loyal, and very sincere.”

Mohammed Al-Suwaidi, chairman and chief executive officer of the Al-Zuwaido Group of Companies told President Arroyo that there is a “greater demand” for manpower in the kingdom, where are about 1.5 million Filipinos.. The Al-Suwaidi group, as Favila noted, is encouraging the Philippine government to fast-track the training of Filipino workers and expand the training facilities.

Meanwhile, Sheik Abdulaziz Al-Turki of the Rawabi Group of Companies and Sheikh Hamad Al-Zamil of the Al-Zamil Group of Companies are planning to engage in “two-way” investments with the Philippines.

Fajardo said in a press briefing, “The Rawabi and Al-Zamil Group of Companies have proposed a joint investment committee essentially to sit down and to work out what particular business activities that they can look into. The interest would range anywhere from manufacturing all the way down to agriculture.” She added that both companies also offered to provide scholarships to Filipino workers based in KSA.