Marina, BUEA, DBP eye shipbuilding financing
THE Maritime Industry Authority (Marina) and Busan Marine Engineering Association (BUEA) teamed up to propel the shipbuilding industry with support from the Development Bank of the Philippines (DBP).
Officials of the agencies recently discussed leveraging BUEA’s ship designs, attracting interest from several shipping companies.
BUEA Ambassador to the Philippines Hyoungkyu Park informed Marina Administrator Sonia Malaluan of companies interested in availing of the ship design under the “Integrated Ship Construction Support System Project.”
Malaluan, accompanied by the chief of staff and director of the Shipyards Regulation Service (SRS) director, Ramon Hernandez, considered BUEA’s proposal to collaborate on developing a shipbuilding industry production technology and human resources training center in the Philippines. This will boost the shipbuilding sector and the technological and human resource exchanges to achieve mutual growth between the Philippines and South Korea. In 2022, the Marina Training Institute was inaugurated in Bacolod City.
Maria Teresa Mamisao, Shipyard Development and Licensing Division chief, and BUEA representatives led by Park met with DBP officials to discuss financing programs for the construction of vessels under the joint project.
DBP Vice President for Corporate Banking Group Raquel Atienza and Assistant Vice Presidents Jennifer Benedicto and Khaye Anzures welcomed the alliance.
The alliance represents a significant step toward positioning the Philippines as a competitive player in global shipbuilding. Collaborative efforts between Marina, BUEA and DBP will allow the country to capitalize on opportunities for economic growth, technological advancement and skills development in the maritime industry.