The Department of Transportation (DOTr) is tapping Korean Eximbank, Japan Infustrial Cooperation Agency, multilateral development banks such as Asian Development Bank, World Bank, among others to conduct feasibility studies for the proposed establishment of Maritime Industry Parks (MIPs) in the country.
Transportation Assistant Secretary Villamor Ventura S. Plan said on the sidelines at the opening Wednesday of the 3-day 11th Philmarine 2026 that several foreign governments and financing institutions also expressed strong interest to fund the FS, which he said, can be done within the remaining period of President Marcos Jr.’s administration.
In particular, Plan said that Korean Eximbank expressed eagerness to undertake the MIPs FS.
He cited the strong interest from the Canadian government.
The FS, which could cost a couple of million dollars, will determine which areas in the country MIPs may be established and consider a domestic supply chain.
Thus, MIPs should be under the Martine Industry Authority (MARINA), not other investment promotion agencies, because it requires a holistic approach. There are also specific incentives for investors and financing schemes.
The MIPS is part of the Ship Building-Ship Repair (SBSR) bill pending in Congress, but Plan said the MIPS may procede even without the passage yet of the bill.
MARINA has been pushing for Malacanang’s certification of the SBSR as a priority legislation.
