NATIONAL
Advocates Philippines
Indian Port Giant Eyes Philippine Expansion Amid Favorable Regulatory Environment
Photo credit: PCO
In a significant move poised to bolster bilateral economic ties, India's Adani Ports and Special Economic Zone Limited (APSEZ Ltd.) is eyeing a substantial investment in the Philippines, citing the stability in regulation and business environment under the Marcos administration.
During a courtesy call with President Ferdinand R. Marcos Jr. at Malacañang on Thursday, APSEZ Ltd.'s Managing Director, Karan Adani, expressed confidence in the Philippines' conducive regulatory climate. "Your Excellency, as a private sector, what we always look for is stability. Stability in regulation, stability in the environment that we are operating in. That is what, as you said, you are providing," remarked Adani.
The focal point of APSEZ Ltd.'s Philippine venture lies in Bataan, where the company plans to develop a 25-meter-deep port capable of accommodating Panamax vessels. This strategic move aligns with the Adani Group's broader investment vision, which encompasses ports, airports, power, and defense infrastructure.
President Marcos warmly welcomed APSEZ Ltd.'s expansion plans, underscoring the potential for Philippine ports to facilitate global competitiveness, particularly in agricultural trade. "The government is developing its gateways for tourists and business travelers and for the country’s agricultural products to be moved around affordably and reliably," noted President Marcos.
Furthermore, emphasizing the synergy between the public and private sectors, President Marcos affirmed his administration's commitment to fostering a conducive environment for economic growth. "I always say in my speeches I consider the private sector a full partner in this—it’s a 50/50 agreement. Government cannot do everything, and there are many things that the private sector does better than the government. So, we should recognize that," reiterated President Marcos.
APSEZ Ltd., a pivotal player in India's commercial port operations, traces its origins back to its incorporation as Gujarat Adani Port Ltd. in May 1998. Employing over 1,900 individuals, the company boasts a significant market share in India's cargo movement sector.
With headquarters in Ahmedabad, Gujarat, the Adani Group, founded by Gautam Adani in 1988, spans diverse sectors including energy, ports and logistics, mining and resources, gas, defense and aerospace, and airports. With a combined market capitalization exceeding US$242.73 billion and a workforce of over 43,000 employees, the Adani Group stands as a testament to India's entrepreneurial prowess and global ambition.
During a courtesy call with President Ferdinand R. Marcos Jr. at Malacañang on Thursday, APSEZ Ltd.'s Managing Director, Karan Adani, expressed confidence in the Philippines' conducive regulatory climate. "Your Excellency, as a private sector, what we always look for is stability. Stability in regulation, stability in the environment that we are operating in. That is what, as you said, you are providing," remarked Adani.
The focal point of APSEZ Ltd.'s Philippine venture lies in Bataan, where the company plans to develop a 25-meter-deep port capable of accommodating Panamax vessels. This strategic move aligns with the Adani Group's broader investment vision, which encompasses ports, airports, power, and defense infrastructure.
President Marcos warmly welcomed APSEZ Ltd.'s expansion plans, underscoring the potential for Philippine ports to facilitate global competitiveness, particularly in agricultural trade. "The government is developing its gateways for tourists and business travelers and for the country’s agricultural products to be moved around affordably and reliably," noted President Marcos.
Furthermore, emphasizing the synergy between the public and private sectors, President Marcos affirmed his administration's commitment to fostering a conducive environment for economic growth. "I always say in my speeches I consider the private sector a full partner in this—it’s a 50/50 agreement. Government cannot do everything, and there are many things that the private sector does better than the government. So, we should recognize that," reiterated President Marcos.
APSEZ Ltd., a pivotal player in India's commercial port operations, traces its origins back to its incorporation as Gujarat Adani Port Ltd. in May 1998. Employing over 1,900 individuals, the company boasts a significant market share in India's cargo movement sector.
With headquarters in Ahmedabad, Gujarat, the Adani Group, founded by Gautam Adani in 1988, spans diverse sectors including energy, ports and logistics, mining and resources, gas, defense and aerospace, and airports. With a combined market capitalization exceeding US$242.73 billion and a workforce of over 43,000 employees, the Adani Group stands as a testament to India's entrepreneurial prowess and global ambition.
May 3, 2024
