HomeAsiaWill Marcos’ shipbuilding push deliver lasting capacity for Philippines?
Asia

Will Marcos’ shipbuilding push deliver lasting capacity for Philippines?

PressNewsAgency
By PressNewsAgency

The Philippines has a rare opening to turn its geography, skilled workers and deepening ties with Japan into a stronger maritime industrial base, but analysts say Manila’s push to make shipbuilding a strategic industry will be judged by whether fresh investment can produce lasting capacity.
President Ferdinand Marcos Jnr gave that drive a concrete boost on June 3 when he ordered the addition of 64 hectares (158 acres) to the West Cebu Industrial Park (WCIP), one of the country’s key shipbuilding and heavy-industry hubs.

The proclamation brought the special economic zone in Balamban, on Cebu’s western coast, to more than 600 hectares. This was Marcos’ third expansion of the industrial estate; a separate order last year covered seven parcels of land in the same municipality.

The expansion came shortly after Marcos’ state visit to Japan, where he met officials from Tsuneishi Group Corporation, a Japanese conglomerate with interests in shipbuilding, shipping, energy and other related industries.

Their discussions focused on Tsuneishi’s ongoing and planned investments in shipbuilding expansion, green maritime technologies and advanced maritime manufacturing in the Philippines.

Those plans include expanding Tsuneishi’s shipyard facilities at the WCIP and continuing the development of environmentally friendly next-generation vessels.

Philippine President Ferdinand Marcos Jnr and Japanese Prime Minister Sanae Takaichi shake hands before a summit meeting in Tokyo, Japan, on May 28. Photo: EPA

Source link

Discover more from PressNewsAgency

Subscribe to get the latest posts sent to your email.

- Advertisment -