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MANILA, Philippines — Despite the fact that President Rodrigo Duterte’s term ends in mid-2022, construction businesses in the United Arab Emirates (UAE) are “extremely interested” in participating in the ‘Build, Build, Build’ infrastructure initiative.

Secretary of the Department of Trade and Industry (DTI) Ramon Lopez said in a radio interview on Wednesday evening that he is certain that the ‘Build, Build, Build’ program will be continued in the next administration, giving international investors confidence to participate in the construction industry.

“We informed them that a number of presidentiables have stated that Build Build Build will be their platform as well.” As a result, people should expect this program to continue, given the success of the Build Build Build program under President Duterte’s administration,” he added.

Lopez was in Dubai on business, celebrating the Philippines’ National Day at Expo 2020 Dubai.

He also met with UAE high-level officials, with whom he signed agreements aimed at further strengthening the two countries’ commercial ties.

The conclusion of the Investment Promotion and Protection Agreement (IPPA) to encourage investment flow between the Philippines and the UAE was one of the outcomes of the trip.

Lopez stated that now that the IPPA has been completed, the next step for the two countries will be to sign the agreement.

The Philippines hopes to gain a good portion of investments from the Middle East country through the IPPA, according to the DTI chief, because it has a sovereign wealth fund worth roughly USD1.3 trillion.

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