Business and Economy
Middle East’s LuLu eyes investments in PH
Philippine Economic Zone Authority (PEZA) (Photo by Department of Industry – Philippine Economic Zone Authority)
MANILA — One of the fastest growing supermarket chains in the Middle East and India, LuLu, is eyeing to invest in the Philippines, Philippine Economic Zone Authority (PEZA) Director General Charito Plaza said.
Plaza told reporters that the LuLu Group visited PEZA last week to look at investment opportunities in the country.
As it plans to expand in Southeast Asian countries, Plaza said the United Arab Emirates-based company aims to initially put up warehouse for food products that they will be exporting to Middle East and other markets where LuLu has presence.
“They will now be building in Malaysia, in Thailand, and then also in the Philippines,” Plaza said.
“They will be putting up warehouses and will start looking at possible agricultural areas or agricultural economic zones where they can raise their vegetables and other crops and put up food processing industries to distribute in their different branches in different countries in the world,” she added.
The PEZA chief mentioned that LuLu is visiting an economic zone in Angeles, Pampanga where it can build its warehouse facility in the future.
Aside from warehouse facility, Plaza said LuLu also eyes to bring in its retail business here by building mall and supermarket.
LuLu Group is operating in 21 countries with a total of 138 retail stores.
It has total of 22.5 million square feet of retail spaces globally.
Moreover, Plaza mentioned that Qatar is looking at sourcing its food products from the Philippines.
Plaza said she invited the Qatari food industry to invest in agro-industrial economic zones in the country where they can raise vegetables, fruits, crops, and other agricultural products and process it here then distribute in Qatar.
“Allegedly, they will hire farmers, cattle raisers from the Philippines. I said, “No”. While people are the most sought after labor force, especially in the IT sector, but we have millions of hectares of available lands for agriculture where you can raise food,” the PEZA chief mentioned.
