Subic Bay Freeport – President Ferdinand Marcos Jr. led the inauguration of the HD Hyundai Heavy Industries Philippines in Subic Bay Freeport on Tuesday.
“I am glad to be here in Subic where, together with our partners, we are reviving the shipbuilding in the country to strengthen industries, promote livelihood, and build a better, stronger future for the Philippines” Marcos said.
From 2014 to 2018, our shipyards were producing 1.2 to 2 million gross tons of ships—roughly around 20 oil tankers or 30 large container ships—annually. However, starting in 2019, our output fell, we lost our momentum. Today, we raise the sails once more, he added.
The Hyundai Heavy Industries investing in Subic, the shipyard capacity will significantly increase from 1.3 million to 2.5 million deadweight tons, from handling four to five massive oil tankers to about now eight of those ships.
But more than size, now the ships that we built – this means that they can accommodate vessels with higher volumes, boost the export potential, and create more jobs for the Filipino workers. By 2030, and look forward to this yard employing 4,300 Filipinos.
The President said that the event marks a momentous occasion, citing that the country is set to revive the shipbuilding industry that laid dormant since 2019. The event also coincided with President Marcos pushing the button for the steel cutting ceremony.
SBMA Chairman and Administrator together with other SBMA officials, welcomed the arrival of the President, along with newly-appointed Department of Public Works and Highways (DPWH) Secretary Vince Dizon.
The SBMA also welcomed the Ambassador of the Republic of Korea to the Philippines, Lee Sang-hwa; United States Ambassador to the Republic of the Philippines, MaryKay Carlson; HD Korea Shipbuilding & Offshore Engineering Ind. CEO Mr. Kim Sung-joon; and the executives and employees of HD Hyundai Heavy Industries Philippines, led by President Mr. Oh Sekwang.
The President’s presence underscores the Philippine government’s strong policy support and commitment to attracting long-term, high-impact investments in key industries.