Iraq hopeful of more Filipino Investments

By John Lee.

The Philippine embassy in Baghdad has said that the recent opening of ICTSI‘s $130-million port development in Basra opens further possible opportunities in construction and the oil and gas sectors.

In a statement, Chargé d’Affaires Elmer Cato (pictured) expressed the hope that more Filipino companies would explore investment opportunities in Iraq.

Philippine-based ICTSI’s Basra Gateway Terminal (BGT) in Umm Qasr is Iraq’s largest and only deep-water port, providing employment and training to 240 Iraqis

Enrique Razon, ICTSI chairman and president, said:

“We look forward to seeing Basra Gateway Terminal efficiently support the needs of international shipping lines using standards comparable with the region’s best.”

(Sources: Malaya Business Insight, Balita)

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