Hypermarket operator LuLu Group International is planning to invest $1 million in the Philippines for its export venture of products such as fruits and vegetables, textiles, garments, furniture, and electronics.
In a courtesy call on President Rodrigo Roa Duterte in Malacañang on Tuesday, Lulu Group International Chairman and Managing Director Yusuff Ali Musaliam Veettil Abdul Kader informed the President about his company’s business venture in the country.
Lulu Group’s head also commended the President for his efforts in ensuring peace and order in the country for future generations of Filipinos.
Lulu Group is planning to open a warehouse in Calamba, Laguna, which will become its export hub for its products intended for Gulf Cooperation Council (GCC) countries, Indonesia, Malaysia, and India.
Lulu Group has 151 hypermarkets in GCC countries as well as in Asia.
Rajmal Palikandy Refeeque, Lulu Group’s general manager for Philippines operations, said the company is investing $1 million in the next two to three years for its exports operations.
In agriculture, Lulu Group is looking at purchasing products from farmer cooperatives as well as contract farming. The company is considering sourcing fruits and vegetables from the Davao region, according to Refeeque.
Lulu Group is also working with the Department of Agriculture for its venture in the production and export of agricultural products.
For garments and textiles, among the company’s sources are producers in Pasig and Pasay in Metro Manila.
A highly diversified entity with operations spanning a vast geographical landscape, Lulu Group is spearheaded by its retail division and has interests in hypermarkets, shopping malls, imports and exports, trading, shipping, IT, travel and tourism, as well as education.
With an annual turnover in excess of US$6.9 billion and staff strength of over 40,000, Lulu Group is considered a major player in the economic scenario of the Middle East.
Also present were Finance Secretary Carlos Dominguez III, Special Envoy to Gulf Cooperation Council Amable Aguiluz, Lulu Group managing director Adeeb Ahamed Puthiyaveetil Abdul Gafoor, and commercial director Shahid Padinhare Kodakatt. ###PND