An official of India-based Adani Ports and Special Economic Zone Limited (APSEZ Ltd.) is planning to invest in the Philippines because of the stability in regulation and business environment under the Marcos administration.
“Your Excellency, as a private sector what we always look for is stability. Stability in the regulation, stability in the environment that we are operating in. That is what, as you said, you are providing,” APSEZ Ltd. Managing Director Karan Adani told President Ferdinand R. Marcos Jr. in a courtesy call in Malacañang on Thursday.
APSEZ Ltd. is looking at Bataan for its port development plan, Adani said, adding it could be a good opportunity for the company.
The company plans to develop a 25-meter-deep port that can accommodate Panamax vessels. The Adani Group, on the other hand, is planning to invest in ports, airports, power, and defense.
President Marcos welcomed APSEZ expansion plans in the Philippines, suggesting it may focus on ports handling agricultural products to enable the Philippines to eventually compete globally.
President Marcos said the government is developing its gateways for tourists and business travelers and for the country’s agriculture products to be moved around affordably and reliably.
He suggested that the company starts regionally. The ports could also cater to local or domestic shipping before shifting to international market, he added.
President Marcos also highlighted during the meeting the importance of the synergy between the public and the private sectors as his government opens up the Philippine economy.
“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 government. So, we should recognize that,” he said.
APSEZ Ltd. was incorporated as Gujarat Adani Port Ltd. in May 1998. It is the largest commercial port operator in India accounting for nearly one-fourth of the cargo movement in the country.
It employs more than 1,900 people.
Headquartered in Ahmedabad, Gujarat, India, the Adani Group was founded in 1988 by Gautam Adani. APSEZ Ltd. under the Adani Group.
Comprised of several publicly listed entities with a combined market capitalization of more than US$242.73 billion, among its business areas are energy, ports and logistics, mining and resources, gas, defense and aerospace, and airports.
It employs more than 43,000 workers. PND
