Saudi-Philippine meeting in Riyadh to discuss investment partnerships and labor cooperation
Riyadh, October 20, 2023, A meeting between Saudi Arabia and the Philippines was convened in Riyadh, with the presence of Philippines President Ferdinand Marcos Jr. and Saudi Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, along with officials from both nations, prominent companies, and representatives from public and private sectors.
The discussions at the meeting encompassed various dimensions of investment collaboration, with a focus on sectors such as energy, industry, Islamic financial services, and food security. Additionally, the meeting sought to bolster bilateral relations and deepen cooperation in the labor sector, with an emphasis on the utilization of skilled Filipino workers across different industries.
One of the key objectives of the meeting was to address investment opportunities and enhance the economic and investment ties between Saudi Arabia and the Philippines. The gathering aimed to foster high-quality investments and facilitate the private sector's engagement in investment prospects within both countries.
During the event, a significant milestone was achieved with the signing of a memorandum of understanding within the private sector related to human resources. This initiative seeks to supply skilled labor to meet the demands of the Saudi market through global partnerships with leading companies in this field.