Marcos hails ICTSI subsidiary ‘success story’
Credit to Author: Alexis Romero| Date: Tue, 5 Mar 2024 00:00:00 +0800
MELBOURNE – President Marcos yesterday led the launch of the expansion of the Australia subsidiary of the Manila-based International Container Terminal Services Inc. (ICTSI), calling the development a “Philippine success story” and harbinger of a “more dynamic and fruitful collaboration” between Manila and Canberra.
Speaking during the launch of the third phase of the expansion of the Victoria International Container Terminal (VICT) here, Marcos expressed optimism for a future defined by “closer economic cooperation” between the two countries. “I hope it will only be the beginning,” the President said.
Marcos said he expects VICT’s success to lay the groundwork “for even more success stories” in various sectors, especially with the strategic partnership he signed with Australian Prime Minister Anthony Albanese last year.
“Today, we inaugurate a facility, remotely, that will be here for years to come. This facility is built for the long-haul, akin to the partnership of our two nations,” he said.
“Filipino investments in Australia are thriving, and there could be a lot more mutually beneficial pursuits between our two economies that share many universal values. I look forward to our economic relationship bringing about mutual prosperity to our two countries,” Marcos said.
VICT, which started operations in 2017, is the only fully automated container terminal in the Southern hemisphere. It recently completed Phase 3A of its expansion project. With the expansion, supersized ships can now sail directly into Port Phillip and dock at VICT.