PALACE CALL Businessman Karan Adani calls on President Marcos to discuss investment plans. 鈥擯RESIDENTIAL COMMUNICATIONS OFFICE
President Marcos on Thursday welcomed an Indian commercial port operator鈥檚 intention to 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鈥檚 cargo movement.
鈥淲ith the help of foreign investors like APSEZ Ltd., we will promote the modernization of our country鈥檚 ports. This will ensure vibrant trade and more jobs in our Bagong Pilipinas!鈥� the President said in his Facebook and Instagram accounts.
In his meeting with officials of India鈥檚 largest commercial port operator, Marcos also highlighted the importance of 鈥渟ynergy between the public and the private sectors鈥� as the government opens the country鈥檚 economy.
鈥淚 consider the private sector a full partner in this. It鈥檚 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,鈥� 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鈥檚 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鈥檚 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.
鈥淎s 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,鈥� Adani said during his courtesy call on Mr. Marcos on Thursday afternoon.
Biz plans
In another post on Radio Television Malaca帽ang鈥檚 Facebook page, Malaca帽ang said the Adani group is 鈥渟trategically pursuing expansion in the Philippines, focusing on transport, logistics and renewable energy.鈥�
鈥淭he company is actively exploring investment opportunities in vital infrastructure projects, such as ports and renewable energy initiatives, aligning with the nation鈥檚 aspirations for stability and progress,鈥� the Palace said.
The President welcomed the group鈥檚 expansion plans here and suggested that it 鈥渇ocus on ports handling agriculture products to enable the Philippines to eventually compete globally.鈥�
Marcos told the company鈥檚 officials that the government is developing its gateways for tourists and business, and for the country鈥檚 agriculture products to be moved around affordably and reliably.