According to an official from the National Economic and Development Authority of the Philippines, the country is targeting the South Korean and Japanese shipbuilding markets and is increasing investment in the shipbuilding industry before 2014.
According to Ruperto P. Majuca, Assistant Director-General of the National Economic and Development Authority of the Philippines, the government will increase investment in the Philippine shipbuilding industry by 93 billion pesos before 2014.
Majuca pointed out, “Following this round of investment, the Philippines will become the world's fourth largest shipbuilding nation within the next 5—10 years.” To this end, officials from the National Economic and Development Authority of the Philippines stated that they are evaluating the capacity of existing roll-on/roll-off ports to accommodate international roll-on/roll-off vessels, as well as the necessary regulatory framework to facilitate the provision of such services.”
The Philippines will also renovate other ports located outside of Manila to provide opportunities for the region to undertake global shipping. In addition, Majuca noted that the Philippine government will continue to expand the development of port facilities through public-private partnerships. Port development projects approved through public-private partnerships will help expand tourism by providing inter-island and international cruise services. Facility projects requiring renovation also include the development of ports or transport facilities for the loading and unloading of agricultural products.
