(Manila, 2nd) Philippine President Marcos announced yesterday that the country will make every effort to restore its position as a global shipbuilding hub, and the return to production by Hyundai Heavy Industries at the Subic shipyard marks the first step in this grand plan.
Attending the first steel cutting ceremony for a ship by Hyundai Heavy Industries Philippines, Marcos noted that the Philippines has always supplied the world with outstanding seafarers, and now should also provide quality ships globally, aiming to reclaim its standing among the world’s top shipbuilding nations.
He emphasized that from 2014 to 2018, the Philippines ranked among the world’s top five shipbuilding countries, with an annual output of 1.2 million to 2 million gross tons. However, in 2019, the Philippine subsidiary of Hyundai Heavy Industries went bankrupt, causing the Subic shipyard to halt operations and over 30,000 workers to lose their jobs.
With Hyundai Heavy Industries returning as a reorganized entity, Marcos believes Subic will see a turnaround. The shipyard’s capacity is expected to increase from 1.3 million to 2.5 million deadweight tons, and the annual number of large oil tankers handled to rise from 4-5 to 8.
He revealed that by 2030, the shipyard is expected to employ about 4,300 Filipinos, providing a livelihood for thousands of families and allowing more workers to regain their professional dignity.
The government is also working with the Philippine Technical Education and Skills Development Authority (TESDA) to set up a training center starting November 2024, offering scholarships and 16 courses related to ship manufacturing to ensure the labor force meets international standards.
Marcos stated that the Philippines currently accounts for about 30% of the world’s total seafarers. If the country further strengthens its shipbuilding industry, the Philippines will truly become a “complete maritime nation.”
“Let us show the world that Filipinos have the skills and vision to navigate an ever-changing world,” he said.