World's 7^th Richest Arab meets Jinggoy,
eyes Cebu as investment hub in RP

Senate President Pro Tempore Jinggoy Ejercito Estrada did not limit his United Arab Emirates visit into interaction with Filipino workers; he also explored business opportunities with the world's seventh richest Arab, Mishal Kanoo, to boost local employment.

Mishal Kanoo is the Deputy Chairman of the Kanoo Group, a Bahrain-based family-owned business conglomerate with more than 100 years entrepreneurial experience across the world's most dynamic industries in the GCC, Arab and European countries ranging from shipping, travel, oil, gas & power, to logistics, specialty chemicals and business centers.

Mishal Kanoo, 39, is estimated to have a personal fortune of US$1.7 billion (according to 2007 figures) making him the world's seventh richest Arab. The Arabian Business (June 29, 2008 issue) placed Mishal Kanoo number 22 among the world's most influential Arabs.

The meet was held during Estrada's five-day visit in Abu Dhabi and Dubai where the senator checked on the condition of Filipino migrant workers and led the free film showing of his movie, Katas ng Saudi, as part of the reintegration program of the Department of Labor and Employment's National Reintegration Center for OFWs (NRCO).

Mishal Kanoo expressed interest in pouring investments into the country, especially in the province of Cebu .

"My brother visited Cebu recently," Mishal Kanoo said, adding: "We believe that Cebu is a good place to make investment and do business."

The Arab businessman said that since the Philippines is abundant with both natural resources and skilled labor force, it would not be hard to promote as a destination for international business ventures and tourism.

In their meeting, Mishal Kanoo told Estrada, the things that discourage him and other investors are "heavy traffic" and "poor infrastructure" in urban areas, especially in Metro Manila.

Nevertheless, Mishal Kanoo assured Estrada that he would continue hiring more Filipino workers since they are renowned for their hard work and efficiency.

Estrada, who chairs of the Senate Committee on Labor, Employment and Human Resources Development and of the Joint Congressional Oversight Committee on Labor and Employment, furthermore, hoped that other foreign employers would adapt a "No Placement Fee, No Salary Deduction" policy practiced by the Kanoo Group.

Kanoo Group provides the service fee to its exclusive manpower recruiter (MAB Int'l. Services Inc.) in the Philippines and does not collect placement fee from workers, nor levy the latter from their monthly salary.

"As I have personally witnessed the sheer volume of distressed OFWs in UAE and heard their sorry stories of abuse and maltreatment, it is comforting to meet employers like Mishal Kanoo, who actually observe migrant workers' welfare and open to expanding business into the Philippines to increase local employment such that our workers need not leave their families behind to earn decent living," Estrada said.