The Rawabi Group, Saudi Arabia's leading plant construction firm, has confirmed that it is planning to increase investment in the Philippines and is sounding out a series of mutual growth opportunities between the two countries.

According to the Manila Bulletin, deputy presidential spokesperson Lorelei Fajardo said that the oil and gas plant construction and services group will be joined by Al-Zuwaidi and Al-Zamil in exploring new growth opportunities with the Philippines.

"The Rawabi and Al-Zamil Group of Companies have proposed a joint investment committee essentially to sit down and to work out what particular business activities that they can look into," she said.

Quoting trade secretary Peter Favila, Ms Fajardo said that the Al-Zuwaidi group is also looking to establish a new training and development centre that will increase access to the Saudi job market for Filipino workers.

Saudi Arabia is also today playing host to several world leaders as it inaugurates the King Abdullah University of Science and Technology, a multimillion-dollar academic facility located around 80 km north of Jeddah.

Getenergy event for GCC countries November 2009