Malaysian investors eye PH ports operation
MANILA, Philippines – Malaysian investors are eyeing investments in Philippine ports, particularly Palawan, to improve access in the Brunei Darussalam, Indonesia, Malaysia, the Philippines-East ASEAN Growth Area (BIMP-EAGA).
Embassy of Malaysia Trade Office (MATRADE Manila) trade commissioner Nyaee Ayup said the Labuan Liberty Port Management Sdn Bhd, the operator of Labuan port, is discussing new port development and management with various local government units in Davao del Sur and Palawan.
“We want to establish linkages and strengthen relations we have with the Philippines and explore business together. We would like to establish new opportunities and new markets,” Ayup said.
Labuan Liberty targets to open another linkage, particularly in Puerto Princesa, to get connected to Labuan port and become a gateway to BIMP-EAGA.
“We’re in the proposal and discussion stage. We’re a management team. We will find a joint venture partner for this project,” Labuan Liberty Port chairman and CEO Dato' Sri Mohd Alias Haji Abd. Rahman said.
There is also another foreign investor interested to build the Puerto Princesa port, said Azhar Othman, Labuan Liberty Port business development manager.
“On our part, we’re sending a proposal to manage the port. We'll probably have a joint venture agreement with companies in Palawan,” Othman said.
Rahman said that they have been to Palawan to look into port facilities, cargoes, and vessel. “The vessel should not be too small and not too big to be profitable. We’re looking at the right vessel size, and what cargoes to import and export,” Rahman said.
Both ports of Puerto Princesa and Labuan can also work together on how to grow imports and exports of goods in and out of Palawan to Labuan, Rahman added.
Palawan has agriculture and livestock that can be shipped to Labuan. Malaysia, meanwhile, can provide manufactured products for consumers in Palawan. – Rappler.com