During President Gloria Macapagal-Arroyo's visit to Dubai recently, she invited Dubai businessmen to invest in the Philippines because our country offers the best value for money among the neighboring Asian countries. In her speach before a joint luncheon forum hosted by the Dubai Chamber of Commerce and the Philippine Business delegation, the president said that, "Today, I am interested in getting your investment to the Philippines. The Philippines offers one of the best value for investment in Asia."

Siting the Filipino manpower as having the advantage for being information technology-enabled and english-speaking as a big advantage, the President aslo added the the Phillippines can be a strategic hub in Southeast Asia for investors. With our country offering numerous business opportunities in products like garments, furniture, fashion accessories and dried fruit products, the investors have many to choose from.

During President Arroyo's visit, the Dubai World announced their decision to construct a resort in our country. The construction will be handled through Kerzner which is its hotel and leisure department. This will mean additional job opportunities and tax revenues for us.

The signing of the memorandum of understanding between JAFZA (Jebel Ali Free Trade Zone) International and Subic Bay Metropolitan Authority (SBMA) for the development of a 42-hectare lot in the former US naval base is also another good thing that happened during the President's visit. JAFZA International is a wholly owned subsidiary of Dubai World.

According to JAFZA Executive Vice President Noel W. Gulliver, the MOU calls for a comprehensive planning and development of the 42 hectare inside the SBMA free zone. He also added that, "We will also help out in the marketing, promote to locators to set up shops inside the SBMA" because Dubai World virtually controls the movement of commerce here with almost all top multinationals having shops inside its free zone.