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.
President Marcos joins officials of global firm Cerberus and shipbuilder HD Hyundai following the signing of a partnership deal at Malacañang yesterday. With them are Ambassadors MaryKay Carlson of the US and Lee Sang-Hwa of South Korea .
“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. “It is about the ambitious dreams of grounded individuals like ourselves, always eager to take on the challenge and come up with the next big idea that will change the industry and the entire nation,” he added.In a meeting with Marcos last year, officials of Cerberus, the company that acquired Subic shipyard in 2022, said they are planning to invest more in the Philippines.
The PCO statement said Cerberus wanted to ensure diverse economic activity by having multiple companies engaged in various businesses. The firm also sought to propose to the Subic Bay Metropolitan Authority the conversion of the Subic airport into a cargo and logistics hub, the government’s communication arm said.
The US-based company has also worked closely with the Philippine Navy while establishing a world-class operating base, the President added.
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