Dubai-based logistics giant DP World expressed interest in investing up to P25 billion to advance port operations and logistics in the Philippines.
Department of Trade and Industry (DTI) Secretary Cristina Roque said the company plans to open new ports, adopt advanced technologies and expand its port business in the country.
“We are actively working to create a conducive environment for foreign investors like DP World. Their proposed investments align with our vision of modernizing our port infrastructure and enhancing our logistics capabilities,” Roque said after a DTI delegation met with DP World executives during a trade mission to the UAE from Oct. 3 to 5, 2024.
The UAE company is keen on working with Asian Terminals Inc. (ATI) to invest in port operations and explore opportunities to develop new ports, according to the DTI.
“DP World’s expertise and resources can significantly contribute to the development of our port sector. Their investment will create jobs, boost economic activity, and improve our country’s competitiveness as a logistics hub,” Roque said, highlighting the potential benefits of DP World’s investment for the Philippines:
The Philippine Economic Zone Authority (PEZA) is conducting due diligence for a P1.8-billion barge terminal that DP World plans to develop in the country.
PEZA said the new barge terminal is a big-ticket project that should be facilitated through the green lane for strategic investments.
DP World’s commitment to the project follows previous pledges made to President Ferdinand Marcos Jr. at the World Economic Forum and the ASEAN-GCC Summit.
DP World is working with ATI on the second barge terminal following the construction of the first project in Cavite.
