MANILA, Philippines - The United Arab Emirates is looking at investments in the country's renewable energy sector but needs a better understanding of how to do business in the country.

UAE Minister of Economy Sultan Bin Saeed Al-Mansouri led a large delegation representing different sectors including petrochemicals and real estate which made a courtesy call on Vice President Jejomar Binay yesterday.

Philippine Ambassador to the UAE Grace Relucio-Princesa and Ambassador of UAE to the Philippines Moosa Abdulwahid Alkhajah accompanied the group.

Al-Mansouri said it is an excellent opportunity to explore investment opportunities in the country.

"We look at renewable energy to invest here in the Philippines, and that we need to understand the Philippines much better in terms of how we can do business here," Al-Mansouri said in an interview with Binay.

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The minister, whose visit was to seek an increase in bilateral trade and relations between UAE and the Philippines, said the Philippines has to be known "more" in other countries.

He said the Philippines has to do a lot of exposures.

"We got a good advice from his excellency, that is we have to be known more in other countries. We just have to do a lot of exposures. We had invited his excellency to consider investing on manufacturing and services so they can cater to the customers here in Asia," Binay said.

Al-Mansouri said they were also interested in Philippine companies doing business in the UAE.

"We had a forum yesterday, the secretary of trade was also there, and we met a large number of Filipino companies. We're very impressed with the profile of these companies. We believe that it's about time for the Filipino companies to come out and also explore the potential of doing business in our region," he said.

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He also invited the Vice President and representations from the Philippine government and the private sector to attend the investment forum in Dubai in April.

"That would be an excellent window for businessmen from the Philippines to as I said to promote what they have, not only for their [country] but also for the region and the world," he said.

The minister praised the 475,000 overseas Filipinos workers (OFWs) in the gulf state.

"We are very proud of their achievements, their participation in the UAE economy and UAE's social life. They're doing a wonderful job, a great job. We really feel very close to them and I mean that in every way," Al-Mansouri said.

By Pia Lee-Brago (The Philippine Star)

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