Friday, April 19, 2024

Dubai-Based Logistics Firm Eyes Investments In Philippines

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Dubai-Based Logistics Firm Eyes Investments In Philippines

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Dubai-based logistics company DP World has expressed interest in putting up a logistics hub and an industrial park in the Philippines, the Department of Trade and Industry (DTI) said Tuesday.

In a statement, the DTI said Secretary Alfredo Pascual met with DP World Group Senior Vice President for Government Affairs Omar Al Muhairi and Group Senior Vice President for Corporate Finance and Business Development Anirudh Talwar in Abu Dhabi, United Arab Emirates (UAE) last Feb. 25.

Pascual is currently in Abu Dhabi to lead the Philippine delegation at the 13th World Trade Organization Ministerial Conference from Feb. 26 to 29.

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

“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.

The DTI chief said the planned investments of DP World in the logistics sector are aligned with the vision of the Philippines to be the next logistics hub in Asia.

The DTI said the government also implements strategic infrastructure projects through the ‘Build Better More’ infrastructure program, focusing on the development of seaports, airports, and railways to improve essential gateway accessibility and foster innovation.

Pascual said the Philippines is dedicated to luring more foreign investments by passing legislations such as the Corporate Recovery and Tax Incentives for Enterprises or CREATE Law that offers flexible incentives and the amended Public Services Act that allows full foreign ownership in critical sectors.

Pascual also assured DP World of DTI’s assistance by connecting them with potential local partners for infrastructure projects, facilitating seamless collaboration, and sharing of expertise.

“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’,” he said.

DP World is one of the leading smart end-to-end supply chain logistics providers, offering services such as container handling in ports, industrial parks, and economic zones. It operates 15 ports across the globe.

On the sidelines of the conference, Pascual also met with Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi. (PNA)