Department of Trade and Industry (DTI) Secretary Fred Pascual met with representatives from the global logistics giant DP World on February 25, 2024.
Represented by Group Senior Vice President for Government Affairs Omar Al Muhairi and Group Senior Vice President for Corporate Finance and Business Development Anirudh Talwar, DP World expressed its interest in investing in logistics hubs and an industrial park in the Philippines.
“We see significant economic potential in collaborating with DP World to develop the Philippines' logistics sector, including industrial parks, economic zones, and digital solutions. 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,”Pascual said.
Aligned with the vision of the Philippines becoming Asia's next logistics hub, the administration has launched the 'Build, Better, More' program to prioritize strategic infrastructure investments. This program focuses on the modernization initiative to develop seaports, airports, and railways to enhance essential gateway accessibility and foster innovation.
Furthermore, the Philippines demonstrates its dedication to attracting foreign investments through various initiatives, thereby creating a comprehensive support system for companies like DP World. The Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law offers flexible incentives, while the amended Public Services Act (PSA) allows greater foreign ownership in critical sectors. Additionally, the DTI can connect DP World with potential local partners for infrastructure projects, facilitating seamless collaboration and expertise sharing.
“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 the DTI chief.
The meeting with DP World is part of Secretary Pascual’s sideline engagements before his participation in the World Trade Organization’s (WTO) 13th Ministerial Conference (MC13).
Founded in 2005, DP World is a leading worldwide smart end-to-end supply chain logistics provider that offers services such as container handling in ports, industrial parks, and economic zones. It operates over 150 ports worldwide, including the prestigious Jebel Ali Port. PR