The Department of Trade and Industry in the Philippines has revealed a strategic collaboration with the United Arab Emirates to propel the nation’s digital economy forward. This initiative, spearheaded by DTI Secretary Alfredo Pascual, involves the joint development of high-capacity data center projects totaling 500 megawatts.
Secretary Pascual formalized this partnership by signing a Memorandum of Understanding (MOU) with UAE Minister of Investment Mohamed Hassan Alsuwaidi. The primary objective is to strengthen economic ties, with a particular focus on advancing digital infrastructure in both countries.
Pascual emphasized the pivotal role these data centers will play in positioning the Philippines for greater success in the global digital economy. These centers are deemed crucial for storing essential data and running applications aligned with the country’s vision for robust growth in the digital ecosystem. The agreement places significant emphasis on fostering relationships between public and private sector entities in the UAE and the Philippines.
Additionally, the collaboration aims to promote knowledge sharing and offer incentives for pertinent initiatives. Secretary Pascual actively invited UAE investors to consider the Philippines as an attractive investment destination, citing opportunities within the country.
Underlining the Philippines’ commitment to transitioning into an investment-led economy, Pascual highlighted the potential for generating higher-quality, better-paying jobs for Filipinos. He outlined the current administration’s comprehensive approach to streamline foreign investments, emphasizing a whole-of-government strategy.
In further developments, Secretary Pascual disclosed the upcoming December visit of President Marcos to the UAE. The visit is anticipated to fortify bilateral ties between the two nations. Pascual noted that President Marcos’ visit would underscore the Philippines’ dedication to addressing global challenges, particularly climate change, fostering a sustainable and resilient economic cooperation.
The UAE Minister of Investment acknowledged the Philippines’ rapid digital adoption, resilient infrastructure, and strategic market proximity, foreseeing an accelerated digital expansion for the UAE through this collaboration.
