MANILA, PHILIPPINES — In a bid to promote investment opportunities in construction and related export products and services, and Information Technology-Business Process Management (IT-BPM) to the Middle East, the Philippines will hold a Business Forum and Business-to-Business (B2B) matching series happening during Expo Dubai 2020 on December 15-16, 2021.
Organized as part of the business events of the Philippine participation in Expo Dubai, the forum and B2B sessions seek to open opportunities for market players in the Middle East region to network with Philippine stakeholders in the field of construction, architectural landscape, interior design, engineering services outsourcing, information technology, investment promotion, and business process outsourcing (BPO). To date, a total of 60 homegrown companies will participate in the event.
“We are excited to promote the Philippines’ construction services and its allied industries, as well as our IT and BPO sectors, which are among the fastest-growing industries in the country,” said Rosvi Gaetos, Assistant Secretary of the Philippines’ Department of Trade and Industry (DTI) and the Alternate Commissioner-General for the Philippines’ Participation in EXPO DUBAI 2020.
“Fueling this high-impact growth is our pool of world-class talents and skilled professionals such as our engineers and architects, who help build the reputation of the Philippines as a go-to partner for building homes, roads, and bridges and other construction and architectural projects of firms around the world,” she added.
A synergy of agencies under the Department of Trade and Industry(DTI) spearheads this forum and B2B series. These are the Export Marketing Bureau (EMB), the Board of Investments (BOI), the Construction Industry Authority of the Philippines – Philippine Overseas Construction Board (CIAP-POCB), the Center for International Trade and Expositions and Missions (CITEM), and the Philippine Trade and Investment Centers in Dubai and Jeddah (PTIC-Dubai & Jeddah).
DTI is organizing the forum and B2B series as part of the Philippines @ Expo Dubai Business Events. DTI looks at the Expo 2020 Dubai as an ideal platform to promote the country’s trade, tourism, and investments and enhance the Philippines’ relations with the Middle East and the rest of the world. The Expo 2020 Dubai will run from October 01, 2021, to March 31, 2022.
PH construction industry records highest growth rate in 2nd quarter of 2021
According to the Philippine Statistics Authority (PSA), the Philippine gross domestic product (GDP) posted an 11.8% growth for the second quarter of 2021. Together with manufacturing, wholesale and retail trade, and repair of motor vehicles and motorcycles, the construction industry is one of the main contributors to this growth. Construction posted the highest growth rate for the quarter at 25.7%, followed by manufacturing at 22.3%.
The construction industry likewise substantially contributed 69.6 percent to overall capital investments or gross capital formation (GCF). Construction share to GDP by expenditure is equivalent to 16.6%. Amidst the pandemic, the construction industry placed second with 1.7% points as one of the top contributors to GDP growth for Q2 2021. Manufacturing had 3.9 percentage points, and wholesale and retail trade with 1.0 percentage points.
The construction industry is identified as one of the sectors to be prioritized for foreign investment as it continues to provide job opportunities to the local workforce. As of June 2021, it employs on average a total of 4.337 million workers or equivalent to 9.6% share to the total employment of 45.075 million