Dubai-based multinational logistics company DP World is planning to set up an industrial park and invest in the Philippines.
The plan was unveiled after President Bongbong Marcos met with Sultan Ahmed bin Sulayem, group chairperson and chief executive officer of DP World, at the World Economic Forum in Davos, Switzerland.
The Dubai-based giant logistics firm reportedly wants to set up the industrial park in Clarkfield, Pampanga. Bin Sulayem told Marcos that their company is now developing industrial parks in many countries, including Senegal, Egypt, India, and Pakistan.
“We are committed to investing in the Philippines; we’re committed to expand. So we’re interested in the Philippines, in industrial parks,” Bin Sulayem told Marcos.
Alfredo Pascual, Secretary of Trade and Industry (DTI), for his part, urged multinational corporations to explore investment potential in the Philippines, particularly as the country enters into an industrial transformation.
“To further attract investments in the Philippines, it is imperative that we facilitate industrial transformation that will complement our economic recovery initiatives We, at DTI, consider science, technology, and innovation (STI) as our main drivers. STI will facilitate the development of new oods, services, and even industries; increase production efficiency, and strengthen industrial linkages,” Pascual said during the WEF’s CEO Dialogue on Philippines last Jan. 17.
Meanwhile, Finance chief Benjamin Diokno said that the Philippine government succeeded in wooing investors at the forum.
“We’ve accomplished much. We had meetings with various top leaders and businessmen during our opening session with the President. The purpose was really to sell the country,” he added.
Nine multinational companies have agreed to invest in the Philippines after meeting with Marcos according to economic managers.
Marcos met with top executives of Astranis, a US provider of low-orbit satellites which can be used for internet access. He also met with executives from Morgan Stanley which agreed to set up an office in the Philippines.
“We aim to raise the confidence of investors, especially those that will benefit the social sectors of health, education, and agriculture. For this reason, we have taken a proactive approach,” Marcos said in his keynote speech at WEF.
