DP World expressed its interest in investing in logistics hubs and an industrial park in the Philippines.
This was reported by Trade Secretary Alfredo Pascual following his meeting with officials of the global logistics giant on February 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.
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,” said Pascual in a statement released yesterday.
Pascual expressed the Department of Trade and Industry’s (DTI) commitment to connect DP World with potential local partners for infrastructure projects, facilitating seamless collaboration and expertise sharing.
DP’s interest is aligned with the vision of the Philippines becoming Asia’s next logistics hub, the DTI said in a statement.
Pascual said this is also in parallel to the Build, Better, More program which prioritizes strategic infrastructure investments.
“The Philippines demonstrates its dedication to attracting foreign investments through various initiatives, thereby creating a comprehensive support system for companies like DP World,” Pascual said.
The DTI briefed DP World on the Corporate Recovery and Tax Incentives for Enterprises Law offers flexible incentives and the amended Public Services Act which allows greater foreign ownership in critical sectors.
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.
DP World was represented at the meeting by group senior vice president (SVP) for government affairs Omar Al Muhairi and group SVP for corporate finance and business development Anirudh Talwar.
The meeting with DP World is part of Pascual’s sideline engagements before his participation in the World Trade Organization’s 13th Ministerial Conference.
