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MANILA, Philippines—President Gloria Macapagal-Arroyo will return to the country before dawn Tuesday from Qatar, where she secured a $1-billion investment in telecommunications, Malacañang said.
The President and her party left Doha at 12 noon local time (5 p.m. in Manila), and will make a three-hour stopover in Abu Dhabi in the United Arab Emirates before proceeding to Manila, the Palace said in a statement.
While in Qatar, the President saw the signing of a memorandum of understanding between Qatar Telecom and the Philippines San Miguel Corp. (SMC), that will see the Qatari firm put an initial investment of $150 million, which will be raised to $1 billion after one year.
The Qtel-San Miguel deal is the biggest investment by a Qatari firm in the Philippines so far, the statement said.
During a meeting, the Emir of Qatar, Sheikh Hamad Bin Khalifa Al-Thani told the President of his country's interest in investing in agriculture and fisheries, the Palace said.
"The President immediately directed the Department of Agriculture, through Secretary Arthur Yap, to come up with the needed project proposals that would respond to Qatar's requirements," the statement said.
