the license will not be accepted any where else
...still the above is factually inaccurate and a blatantly false statement.
It still is an ICAO license. How CAAP goes about implementing it is another game altogether. Yes they were downgraded by FAA and have regained category 1 again now.
I personally enjoyed flying in the Philippines and continue to enjoy recreational flying whenever my vacation permits. Also i have experienced some of the worst weather and shortest airstrips in the islands...so i do hold my fellow airmen/women from the islands in high regard. CAAP licensing practices do leave a lot to be desired but don't take away anything from the honest fliers.
(the unscrupulous ones....well we have the bad apples everywhere don't we?)
The OP has still not clarified if he is a UAE national...which if he is...honestly he has a good chance of making it to any of the majors regardless of where his license is from as long as it is an ICAO one.