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Manila Bulletin devider Business devider Trade & Industry devider DTI, DP World keen to develop logistics hubs in the Philippines

DTI, DP World keen to develop logistics hubs in the Philippines

Published Feb 27, 2024 07:01 am

The Department of Trade and Industry (DTI) said that it is considering engagements with Dubai-based DP World to develop logistics infrastructure in the county.

The agency said that DP World, through its Group Senior Vice President (SVP) for Government Affairs Omar Al Muhairi and Group SVP for Corporate Finance and Business Development Anirudh Talwar, have expressed interest in investing in the Philippines.

Investments in logistics hubs and industrial parks were among the specific projects discussed in their meeting during the sidelines of the World Trade Organization’s (WTO) 13th Ministerial Conference (MC13) on Feb. 25 in Abu Dhabi.

“We see significant economic potential in collaborating with DP World to develop the Philippines' logistics sector, including industrial parks, economic zones, and digital solutions,” said DTI Secretary Alfredo E. Pascual.

“We are committed to fostering an environment that encourages such partnerships by creating policies that promote sustainable development, foreign investment, and innovation in the logistics sector,” he added.

With DP World’s reputation as a leading supply chain logistics provider and their expertise as a port operator, the agency hopes to include the company in its roster of investors in line with the “Build, nd theBetter, More” (BBM) program.

The BBM program aims to hone strategic infrastructure investments that include modernization and development of key seaports, airports, and railways.

DTI also mentioned the incentives included in the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law for companies like DP World, along with a bigger share of foreign ownership allowed in the revised Public Services Act (PSA) for firms with projects classified under critical sectors.

“The Philippine government, through the DTI, remains firmly committed to supporting businesses and investments. We are dedicated to fostering an environment that enables companies to thrive and contribute to the nation's continued growth and prosperity. We are ready to Make it Happen for you in the Philippines,” said Pascual. 
  

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