Philippines stands to become the next shipping and maritime investment destination

Philippines seen as maritime investment hub

Story by Pia Lee-Brago 

Philstar Global

12 July 2024

MANILA, Philippines — The Philippines stands to become the next investment destination in the shipping and maritime industry, an official said at a maritime forum hosted by the embassy in Greece.

Image by Alexandre Gonçalves da Rocha from Pixabay

The Philippine embassy in Athens led by Ambassador Giovanni Palec recently organized the Philippine Maritime Forum to promote the Philippines as an investment destination in the sector.

In attendance were shipowners and representatives from various ship management companies, maritime law firms and manning agencies that had representative offices in the Philippines.

Palec highlighted the longstanding bilateral relations between the Philippines and Greece with the two countries celebrating 75 years of diplomatic relations in 2025.

He noted that both the Philippines and Greece are maritime nations and this common ground has been a significant factor in their close relationship with the Philippines providing a huge number of skilled seafarers around the world, with Greece owning the biggest number of fleets globally and employing many Filipino workers.

He also encouraged the representatives to form an association so that as a group they could convey their positions on certain issues related to their field as this would be beneficial to both parties.

Maritime Industry Authority (MARINA) administrator Sonia Malaluan gave a briefing on the Philippines’ thriving maritime industry, highlighting the latest trends and developments in the sector, the huge number of seafarers deployed by the country internationally and the Philippines’ shipbuilding industry which ranks as the fourth biggest worldwide.

Department of Migrant Workers Assistant Secretary for sea-based OFW concerns Jerome Pampolina presented the various programs of the DMW aimed at upskilling and making Filipino workers more competitive globally, including in shipping and maritime-related services.