SHENZHEN: Will the Chinese government’s planned revival of the historic Silk Road trade route open the door of opportunity for the immediate solution to the perennial problem of port congestion and traffic in the Philippines. Spurred by the Belt and Road Initiative, China’s ambitious plan to build and upgrade highways, railways, ports, and other infrastructure, Shenzhen Yantian Port Group, a major player in the container port services industry, is now busy looking for investment opportunities in Southeast Asia, Middle East and Europe.
While he admitted that it is not proper to talk about particular projects that are still being negotiated, YPG chief engineer Mingjun Xiao nevertheless revealed during talks with visiting Filipino journalists that his company is currently working out the possibility of constructing ports and providing much needed logistics not only in Malaysia, Egypt, and Italy but also in the Philippines. “We have one project in your country but I’m not at liberty to mention the name since we have a competitor from your country,” said Mingjun apparently referring to the International Container Terminal Services, Inc. which directly manages, operates, and develops container terminals in the Philippines.
According to the YPG official, his colleagues have all expressed excitement about the possibility of investing in the Philippines. “Under China’s Belt and Road Initiative, if our government thinks there are opportunities, we would like to take part,” he pointed out. With the likelihood of YPG launching an expansion program in the Philippines, its operations could very well dwarf that of the Enrique Razon-owned ICTSI in terms of size, volume, income, and advanced technology.
