President Ferdinand R. Marcos Jr. on Tuesday, September 2, led the official launch of HD Hyundai Heavy Industries Philippines, Inc. at the Redondo Peninsula shipyard in Subic, marking what he called the resurgence of the country’s shipbuilding industry.

Marcos spearheaded the ceremonial steel cutting for the first vessel to be built at the facility, symbolizing the start of operations and the return of large-scale ship production in the Philippines.

“Today, we raise the sails once more,” Marcos declared, noting that the country’s shipyards previously produced 1.2 to 2 million gross tons annually between 2014 and 2018, before output sharply declined in 2019.

With Hyundai’s investment, the shipyard’s capacity is expected to grow from 1.3 million to 2.5 million deadweight tons, doubling production capability from five to eight massive oil tankers. The venture is projected to create 4,300 jobs for Filipinos by 2030.

“By 2030, we look forward to this yard employing 4,300 Filipinos—that means thousands of families with food on the table, thousands of workers with dignity in their craft, thousands of Filipinos who see shipbuilding as a source of livelihood,” Marcos said.

The President also highlighted the role of the Technical Education and Skills Development Authority (TESDA), which has set up a training hub in Subic in partnership with Hyundai. The center currently offers 25 scholarships and 16 maritime and shipbuilding training programs to equip workers for the industry.