FedEx to ramp up size in PH with fresh investments

MANILA: US logistics company Federal Express Corp. (FedEx) confirmed its expansion in the Philippines by signing an agreement with Clark International Airport operator Luzon International Premiere Airport Development (LIPAD) on Thursday. With the fresh investments in the Philippines, FedEx said in a statement that it eyes to more than double its facilities on the 17,000 square meters of land it is currently occupying at the Clark Aviation Complex in Pampanga. It did not disclose the investment value but the FedEx Philippine Gateway Expansion project will involve establishment of additional facilities, such as aprons and taxiways will facilitate its operations to improve cargo handling. 'This expansion is a testament to our strong commitment in facilitating cross-border trade and optimizing the country's supply chain capabilities,' FedEx Philippines managing director Maribeth Espinosa said. She added the FedEx expansion will boost the growth of the country's logistics sector. "We proudly celebrate this co llaboration with FedEx Philippines for their Clark Gateway expansion within the LIPAD project land. This landmark agreement embodies our unwavering commitment to fostering sustainable development and economic vitality in the region, ensuring a brighter future for us, and for the whole community,' LIPAD president and chief executive officer Noel Manankil said. In October 2021, FedEx opened its gateway in Clark which has the capacity to sort up to 9,000 parcels per hour. Two years after, FedEx launched its Vietnam-Philippines flight service to improve the transit time of cargos between the two markets with their increasing volume of trade. Meanwhile, US logistics company UPS announced early this year the expansion of its Clark facility as part of its USD250-million investment plan for its Asia Pacific operations. FedEx and UPS were part of the delegation of US Secretary of Commerce Gina Raimondo during her Presidential Trade and Investment Mission (PTIM) in Manila last March 11 to 12, wherein US firms commi tted to pour in at least USD1 billion in investments in the country. Source: Philippines News Agency