Saudi Arabia invites Philippine expats, investors to join Vision 2030 projects

Part of the construction of the Riyadh metro main line is seen in the Saudi capital on Jan. 24, 2017. (AFP)

• Philippine authorities are also eyeing the Kingdom’s expanding job market
• Saudi ambassador sees opportunities in tourism, renewable energy, infrastructure

MANILA: Filipino expatriates play a vital role in Saudi-Philippine ties, Riyadh’s ambassador to Manila said on Friday, as he invited professionals and investors to join the Kingdom’s megaprojects under Vision 2030.
More than 800,000 Philippine expats live in Saudi Arabia, which is their preferred work destination abroad.
The overseas Filipino workers, or OFWs, are not only key drivers of the Philippine economy and main contributors to its foreign reserves but also — as officials often say — the country’s “ambassadors” all over the world.
In the context of Saudi Arabia, they are one of the main actors helping the Philippines develop and sustain good ties with the Kingdom.
“Filipino expatriates in the Kingdom of Saudi Arabia play a vital role in strengthening the ties between our two nations. They contribute significantly to the Saudi economy and society through their hard work, skills, and dedication,” Saudi Ambassador to the Philippines Hisham S.A. Al-Qahtani told Arab News in an exclusive interview.
“Their presence has helped build bridges of understanding and friendship between our peoples. The Filipino community in Saudi Arabia serves as a strong bond, fostering cultural exchange, and enhancing cooperation in various sectors. Their contributions are highly valued and appreciated.”
Even more opportunities for the Philippines — in terms of work, investment and joint projects — are becoming available under the Saudi Vision 2030 economic diversification plan.
“The Philippines can support this vision by further strengthening bilateral trade and investment ties, exploring opportunities for joint ventures and partnerships, and sharing expertise in sectors of mutual interest,” Al-Qahtani said.
“The Kingdom welcomes Philippine businesses and investors to participate in its diversification efforts, particularly in non-oil sectors such as tourism, renewable energy, infrastructure, and human capital development.”
Human capital development reflects Saudi Arabia’s efforts to improve the professional competence of employees in its labor market and regulate the quality of employment, while ongoing clean energy and sophisticated infrastructure megaprojects aim to help the economy pivot away from its traditional dependency on fossil fuels.
Tourism, also, is currently a booming sector in the Kingdom as the government plans to triple its employment to 1.6 million people and contribution to gross domestic product to 10 percent by 2030.
“Saudi Arabia remains committed to providing opportunities for Filipino expatriates in various fields,” the Saudi ambassador said.
“Saudi Arabia’s Vision 2030 initiative has opened doors for economic diversification, investment, and innovation, which can create new prospects for Filipino expatriates. The Kingdom welcomes skilled and talented individuals from the Philippines to contribute to its development.”
Philippine officials have also been eyeing the emerging opportunities and last month announced they were in talks with Saudi authorities for a special mass hiring program that could see 1 million jobs for skilled Filipinos.
Philippine Department of Migrant Workers Secretary Susan Ople announced in late May that a delegation from the Saudi Ministry of Human Resources and Social Development was expected in Manila in June to develop the program.