PALACE CALL Businessman Karan Adani calls on President Marcos to discuss investment plans. —PRESIDENTIAL COMMUNICATIONS OFFICE
President Marcos on Thursday welcomed an Indian commercial port operator’s intention to invest in the Philippines as he stressed the importance of the private sector in economic growth.
This was after he met with officials of Adani Ports and Special Economic Zone (APSEZ) Limited, a commercial ports operator in India that is responsible for one-fourth of India’s cargo movement.
“With the help of foreign investors like APSEZ Ltd., we will promote the modernization of our country’s ports. This will ensure vibrant trade and more jobs in our Bagong Pilipinas!” the President said in his Facebook and Instagram accounts.
In his meeting with officials of India’s largest commercial port operator, Marcos also highlighted the importance of “synergy between the public and the private sectors” as the government opens the country’s economy.
“I consider the private sector a full partner in this. It’s a fifty-fifty agreement. The government cannot do everything and there are many things that the private sector does better than the government. We should recognize that,” he said.
Stable grounds
In a statement on Friday, the Presidential Communications Office (PCO) said Adani is planning to invest in the Philippines, particularly in Bataan for its port development plan.
The company’s officials told Marcos that investing in the Philippines could be a good opportunity for the company, which has business and investments in energy, ports and logistics, mining and resources, gas, defense, aerospace and airports.
The PCO said Adani is planning to develop a 25-meter deep port that can accommodate Panamax vessels. The Adani Group is also planning to invest in ports, airports, power and defense.
The company’s managing director Karan Adani told the President that the company is looking for stability in investing in a country, adding that the private sector plays a vital role in developing strong transportation networks.
“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,” Adani said during his courtesy call on Mr. Marcos on Thursday afternoon.
Biz plans
In another post on Radio Television Malacañang’s Facebook page, Malacañang said the Adani group is “strategically pursuing expansion in the Philippines, focusing on transport, logistics and renewable energy.”
“The company is actively exploring investment opportunities in vital infrastructure projects, such as ports and renewable energy initiatives, aligning with the nation’s aspirations for stability and progress,” the Palace said.
The President welcomed the group’s expansion plans here and suggested that it “focus on ports handling agriculture products to enable the Philippines to eventually compete globally.”
Marcos told the company’s officials that the government is developing its gateways for tourists and business, and for the country’s agriculture products to be moved around affordably and reliably.