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Middle East's LuLu eyes investments in agriculture in the Philippines
One of the fastest growing supermarket chains in the Middle East and India, LuLu, is eyeing to invest in the Philippines, the 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 warehouses for food products that they will be exporting to Middle East and other markets where LuLu has a 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.
Aside from warehouse facility, Plaza said LuLu is also looking to bring in its retail business to the Philippines by building malls and supermarkets.
Publication date: 10/12/2017
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