Philippines courting nine Japanese shipbuilders
The Philippine department of trade and industry (DTI) is courting nine Japanese shipbuilders to invest in the Philippines in a bid to bolster the country's shipbuilding activities, Seatrade Asia online reports.
The Japanese shipbuilders are Mitsui Engineering & Shipbuilding Co., Namura Shipbuilding, Sanoyas Shipbuilding, IHI Corporation, Kawasaki Heavy Industries, Mitsubishi Heavy Industries, Sumitomo Heavy Industries, Hakodate Dock Co., Imabari Shipbuilding, and Oshima Shipbuilding Co.
The Philippine government has identified shipbuilding as one of the country's preferred industries under the Investment Priorities Plan (IPP) entitling the sector to enjoy tax holidays and duty free importation of capital equipment, among others.
The DTI also intends to position the country as a shiprepair hub in the Asia-Pacific region.
Cristino L. Panlilio, DTI's undersecretary for international trade and investments, said the Japanese shipbuilders have been encouraged by the successful operation of fellow Japanese yard Tsuneishi Corp in its Philippine operation in Cebu.
