By Bernie Cahiles-Magkilat AUSTAL, maker and exporter of lightweight aluminum boats, has expressed interest to expand its existing operations in Cebu. This was revealed by AUSTAL CEO David Singleton during a meeting with Foreign Affairs Secretary Allan Cayetano and DTI Secretary Ramon M. Lopez during the Philippine Business Delegation Mission to Sydney. The business reception was organized by the Australia Philippines Business Council (APBC) and the Philippine Trade and Investment Center (PTIC) in Sydney. Lopez said that Singleton shared AUSTAL’s shipyard operations in Cebu and its plan to expand its operations in the Philippines. AUSTAL makes fast, lightweight aluminum boats for civilian and military use. They are the sole foreign company supplying Aluminum-hulled ships to the United States Navy. AUSTAL makes ships at its Cebu shipyard for export to customers in Germany, Australia and many other overseas clients who require high-quality shipbuilding. Cayetano and Lopez also witnessed the signing of Letters of Intent (LOIs) by Australian firms to invest in the Philippines from different private sector leaders/firms planning to maximize the Philippines’ growing economy. These LOIs involve potential investments in assembly plant for GPS tracking devices, development of a $20-million biomass power plant, and construction of a $30-million hotel and residential place in Cebu. Australia’s Macquarie Bank Chairman Peter Warne, Chairman of TMIP Holdings David King, ANZ Philippines CEO Anna Green, and AUSTAL CEO David Singleton were among the Australian business executives present. Philippine business leaders present in the mission include Concepcion III and SM Investment’s Ms. Teresita Sy-Coson, among others. In his address to the business community, Lopez highlighted government’s support programs for micro, small, and medium-sized enterprises (MSMEs) and its initiatives that ensure the growth, development, and competitiveness of these enterprises. He shared DTI’s Negosyo Centers, Pondo Para sa Pagbabago (P3), Shared Service Facility (SSF), market access initiatives that provide permanent space for MSME products, and online digital space programs, which are summed up in the DTI’s 7M strategy on MSMEs. Lopez also cited that increasing the trade base between Australia and the Philippines should be based on complementarity of industries and sectors where growth will be highly recorded. Some examples he gave were on agri-based commodities, ship-building, construction (Build, Build, Build), and IT and Business Process Management Services (IT-BPM). In his closing remarks, Lopez shared the Philippines’ economic breakout, supported by growth in GDP, manufacturing, consumer confidence, among others. He also emphasized the enhancement of domestic policies, with new regulations adopted to ensure competitiveness of businesses and industries. Lopez also noted the recently issued tax law (TRAIN), where individuals are expected to have bigger take-home pay. With its implementation, it is expected to build a wider consumer base with higher buying capacity leading to greater opportunities for businesses. Secretary Lopez reiterated that the Philippines is open for business, with DTI’s core task of bringing more job-generating opportunities for all Filipinos.