The soon to be signed agreement for reciprocal promotion and protection of investment between Qatar and the Philippines could boost investments between the two countries, Philippine Ambassador Crescente R Relacion said.
During the visit of the Emir H H Sheikh Hamad bin Khalifa Al Thani to the Philippines last year, a number of memoranda of understanding were signed including one on investment which included a plan to establish a $1bn joint investment fund.
“With the signing of the agreement on reciprocal protection and promotion of investment, the $1bn joint investment would materialise and expedited,” Ambassador Relacion said yesterday during the formal inauguration of the new Philippine chancery.
As the title of the agreement suggests, it would assure both parties’ investments would be protected and thus encourage more investments from both sides, he added.
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