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Sunday, April 21, 2024

Dubai firm to expand logistics unit, eyes PH industrial parks, ecozones

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Dubai-based DP World plans to expand its logistics footprint in the Philippines and mulls establishing an industrial park, after a meeting with the Department of Trade and Industry (DTI) at the sidelines of the World Trade Organization’s (WTO) 13th Ministerial Conference in the United Arab Emirates.

“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 Trade Secretary Alfredo Pascual.

DP World senior officials said the global logistics giant has standing logistics business in the Philippines that perfectly aligns with the country’s vision of becoming Asia’s next logistics hub.

The UAE company recently disclosed possible investments of P1.8 billion for a second barge terminal in Mindanao to facilitate the end-to-end logistics needs of exporters within the economic zones in the island.

DP World plans to replicate the barge terminal model they put up in Tanza, Cavite and equip it with similar logistics facilities such as another international seaport and an economic zone in Mindanao.

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The Philippine Economic Zone Authority (PEZA) said the new barge terminal is a big-ticket project that should be facilitated through the green lane for strategic investments. The project is undergoing due diligence.

The barge terminal is part of the DP World’s commitment to President Ferdinand Marcos Jr. at the sidelines of the World Economic Forum in Davos, Switzerland earlier in 2023 ad during the ASEAN-GCC Summit in Saudi Arabia.

DP World deepens its partnership with the Asian Terminals, Inc. (ATI) with the second barge terminal project following the construction of the first in Cavite.

Pascual said the government prioritizes strategic infrastructure investments through the ‘Build, Better, More’ program, focusing on the modernization initiative to develop seaports, airports and railways to enhance essential gateway accessibility and foster innovation.

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