RIYADH: President Rodrigo R. Duterte on Wednesday invited Saudi entrepreneurs to invest in the Philippines, as seven letters of intent involving $470 million were signed between the Philippines and local businessmen.
The Philippine president made the invitation as he addressed a sizeable crowd comprising industry leaders, investors and other guests at the Riyadh Chamber of Commerce and Industry on Wednesday afternoon.
Duterte asked investors to visit the Philippines and explore the possibility of investing in the economy, which has registered rapid growth.
He said that he and his delegation “have come here to thank you for helping my country and to invite those who are interested to invest in the Philippines.
“It’s from the bottom of my heart that I thank you for helping us,” Duterte said.
He said that as president, he and his administration will make it easy for foreign investors to do business in the Philippines and guarantee a return on investment (ROI).
He discussed areas with promise for investment such as agriculture and food, and said that the Philippines would comply with the requirements of importation.
Earlier, Charito Plaza, director general of the Philippine Economic Zone Authority (PEZA), signed the seven letters of intent (LOIs) with the local private sector.
The LOIs were signed with Sheikh Alwaleed Tuwaijri (Saudi Investment Group owner), Mohamad Abdullah Albesher (Bashe’er Addawa Trading Company chairman), Faud Abdulrahman Al-Rasheed (Future Formation Holdings president), Sultan Z. Al-Hussain (Zaid Al-Hussain and Brothers Group president and CEO), Amir M. Q. Siddiqui (Advanced Electronic Systems International Business Development director), Abdul Aziz Abdullah Abanmi (Eradh and Reyadhx Development and Commercial Investment president) and Mortaz G. Hawary (Arabian Bugshan Group manager).
A document obtained from PEZA said that a total of 15,950 workers will be needed for the projects as a result of the LOIs.
Trade Secretary Ramon M. Lopez said he was optimistic regarding the outcome of the presidential delegation’s visit as well as in the bilateral trade volume between the two countries.
President Duterte invites Saudis to invest in Philippines
President Duterte invites Saudis to invest in Philippines
Minzal brings Saudi traditions to life in Diriyah
- From leather crafts and archery to Saudi coffee, Minzal offers a lesson in ‘Sloum Al-Arab’
RIYADH: This season of Minzal places social norms and traditional etiquette at its center, with tents set up to teach what is locally known as “Sloum Al-Arab” alongside gatherings for coffee, dinner and stargazing around campfires.
“Sloum Al-Arab” refers to the unwritten customers and values that have shaped Arab and Bedouin society for centuries, including generosity, coffee preparation, courage and archery.
In Saudi Arabia, these traditions are closely ties to cultural identity and religious belief.
Leather products and the making of leather goods is one of the crafts featured at Minzal this year and is one of the oldest crafts still practiced in the kingdom.
“The most difficult thing I faced to work on was camel leather because it is a little tough,” Nada Samman, a leather trainer and craftsman at Minzal, told Arab News.
“The work on leather is wonderful whether it is goat leather, cow leather, Sawakni sheep, and of course, camel leather. At Minzal, we are offering multiple handicraft workshops, most specifically the leather handicrafts. We want visitors to spend time at something useful and fun."
Samman explained the workshops allowed participants to preserve heritage while engaging in meaning, hands on activities.
Faisal Al-Khaled, a visual artist and craftsman specializing in Saudi designs at Minzal, shared a similar goal: “I want people to have, by the end of this experience, a unique and traditional art piece created by them, and that I know I helped them to preserve this craft.”
Minzal, which has been organized for several years now, continues to evolve with each season, offering activities that highlight Bedouin values, traditional skills and sports. Archery is a key feature, reflecting its deep roots in Arab and Islamic history.
Mohammed Al-Sharif, a certified archery player and coach with the Saudi Archery Federation since 2028, said the sport was closely connected to Saudi culture. It was encouraged by the Prophet Muhammad, which led people to learn and teach it through generations.
“Our traditional bow is considered one of the most important and widely used bows in Arab culture,” Al-Sharif said. “We have several styles, and professional archers specializing in traditional bow shooting … There are various types of archery, such as horseback archery and standing archery, where bow sizes vary according to specific needs, such as types used for hunting and others used during warfare.”
He explained that archery was historically part of daily life, used for protection and hunting.
Saudi coffee also plays a significant role in the Minzal experience, with live demonstrations. One of the most frequently consumed beverages in the Kingdom, it is a symbol of hospitality and generosity.
Ahmed Al-Shuaibi explained how it was prepared at the Sloum tent, first by roasting the beans and then allowing them to cool. The beans are ground with spices in a Nigr.
“Coffee is passed from our grandparents,” he added. “In significant majlis, you see them offering our local coffee and not other types of coffee. We organized this corner so that young generations can visit and learn this.”
