French firm OCEA express intent to build ₱1.5-billion shipyard in the country and more at the 9th Philippine-France JEC

OCEA, a shipbuilding firm in northwest France, has expressed its intent to build a ₱1.5-billion shipyard in the country.

According to the Department of Trade and Industry (DTI), OCEA is just one of the investment interests from France that the country piqued at the 9th Philippine-France Joint Economic Committee (JEC) meeting last July 2.

The shipyard is expected to create up to 600 jobs.

At the meeting, French Minister of Foreign Trade and Economic Attractiveness Franck Riester presented three letters of intent that confirm the financial support of the upcoming projects of the Department of Transportation (DOTr), a training boat contract for the Philippine Merchant Marine Academy (PMMA), and a possible maritime expert proposal.

DTI Secretary Ramon Lopez handed over the intent of the Bases Conversion Development Authority to partner with France for the next phase study of the Clark Fresh Food Hub, as well as the Civil Aviation Authority of the Philippines’ intent to renew aviation technical training programs to Riester.

Lopez and Riester also discussed possible cooperation in other sectors such as energy, film and animation, and agriculture.

“This JEC meeting is a testament to how the Philippines and France are now rebuilding together, after global challenges faced during the early phase of the pandemic,” said Lopez.

The JEC with France is the country’s longest-running high-level economic dialogue with a European country. The 10th Philippines-France JEC meeting will be conducted in Paris in 2022.

SOURCE: PNA