BBM bullish on new era of shipbuilding in Phl

President Marcos expressed optimism yesterday that the investments to be generated by the partnership of global firm Cerberus and shipbuilder Hyundai would enhance Subic’s position as a “hotspot” for economic activity as he expressed hope that it will contribute to the attainment of the dreams of Filipinos.

- ALEXIS ROMERO

Speaking during the announcement of the partnership between the two companies at Malacañang, Marcos said the Subic Freeport Zone is among the most developed and soughtafter investment areas, but it can be greater than what it is with the right investment, innovative projects and approach.

"The investments that will be created hereafter are especially beneficial to Subic because these will strengthen the Freeport area's vital role as a hotspot for industrial, commercial and other economic activities," the President said.

Marcos said the initiative of Cerberus and HG Hyundai would allow the Philippines to have a "fresh start" and a "strong foundation" in realizing its vision to be among the largest and most consequential shipbuilders in the world.

"We have established our position as the largest source of competent and able seafarers in the world. The next logical step for us is to ensure that the ships run by Filipinos can also be made by Filipinos," the Chief Executive said.