PHL and France eye financing accord for shipyard devt—BOI

By Andrea E. San Juan @andreasanjuan

THE Philippines and the French government are working on a financing agreement to assist the French shipbuilding firm OCEA’s development of shipyard in the Philippines, according to the Board of Investments (BOI).

In a media briefing on Monday, BOI Managing Head and Trade Undersecretary Ceferino S. Rodolfo illustrated that the France-based shipbuilding firm is eyeing a government procurement deal, for instance, from the Philippine Cost Guard.

In return, pag nakuha nila ’yung ganoong kontrata, in addition to delivering the vessels, they are going to invest also in shipyard here,” Rodolfo said.

“Kasi kailangan may negosyo sila rito na may kita to support. So parang ’yung investment na sinasabi nila would be over and above dun sa idedeliver nilang mga vessels,” the BOI official added.

R odolfo explained that the financing agreement that the two governments are working on are needed to provide assistance for the procurement of these vessels.

Kasi it will be funded partly.… Parang concessional loan with the French government to finance that,” he added.

BOI officials said the financing agreement is a “government-togovernment” or G-to-G framework. Hence, “there is no amount for it.”

According to local reports, “OCEA renewed its commitment to develop a P1.5-billion shipyard in the Philippines.” Reports noted that this happened after a meeting with President Ferdinand R. Marcos Jr. in Brussels, Belgium last December 2022.

According to its web site, OCEA S.A. is the “French leader in Aluminum Shipbuilding.” It added that it specializes in the design, building and support of aluminum vessels up to 90 meters.

The shipbuilding firm noted that it has delivered over 300 vessels.

Its sales and marketing presence extend across 80 countries in Europe, the Middle East, Africa, Asia, Latin America and Central America, the OCEA Group website said.