According to a Philippine Senate report, port congestion results to PHP 2.5B in losses a day. The slow movement and delays in the release of merchandise within the port of Manila- the country’s busiest port complex causes sluggish growth in the industry specifically in manufacturing sector. Ultimately, port congestion increases the cost of doing business for both MNCs and SMEs.
For manufacturers, the slow release of containers from vessels, is delaying the delivery of raw materials and other intermediates used in production, thereby affecting manufacturing targets and disturbing prices and costs.
The Private sector through the American Chamber of Commerce of the Philippines continuously support effective policies, programs and government intervention that would induce greater investments into various sectors in the country, which is essential to achieving inclusive growth. The Chamber recognizes the importance of Public and Private partnership to solving the port congestion problem the country is facing.
In line with this, the chamber’s Manufacturing Committee will have a committee meeting on 11 June 2019, at 10am-12nn entitled “Moving Forward: Updates on the Manila Port Crisis”. The event intends to gather both the government and key stakeholders to dialogue and discuss the government agendas and private sector initiatives to solving port congestion and determining future development plans for Philippine Ports.