News » French firm plans to build a P1.5B shipyard in the Philippines

French firm plans to build a P1.5B shipyard in the Philippines

French firm plans to build a P1.5B shipyard in the Philippines

France-based shipbuilding firm OCEA expressed its intent to construct a P1.5 billion (approximately US$ 30 million) shipyard in the Philippines during the 9th Philippine-France Joint Economic Committee (JEC) meeting, which may create 600 jobs in the country.

During the JEC, the French Minister of Foreign Trade and Economic Attractiveness Franck Riester presented three letters of intent confirming financial support of a training boat contract for the Philippine Merchant Marine Academy and a possible maritime expert proposal.

Trade Secretary Ramon Lopez meanwhile presented to the French minister the intent of the Bases Conversion Development Authority to collaborate with France for the next phase study of the Clark Fresh Food Hub. 

Additionally, the Civil Aviation Authority of the Philippines also wants to renew aviation technical training programs with the European country.

Lopez stated that “This JEC meeting is a testament to how the Philippines and France are now rebuilding together, after global challenges faced during the early phase of the pandemic.” 

A potential partnership between the country and France in energy, film, animation, and agricultural sectors was also discussed.

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