BOI Approves P2.35 Billion Modernization Program for ICTSI Visayas Terminal

​The Board of Investments (BOI) has issued the Certificate of Registration of International Container Terminal Services, Inc. (ICTSI) for the Modernization, Management, and Operation of the Visayan Container Terminal (VCT).

This landmark project, valued at Php2.35 billion, will transform the old Iloilo Commercial Port Complex (ICPC) into a state-of-the-art facility, positioning it as a key driver of regional economic growth and competitiveness.

The project is part of a 25-year Port Terminal Management Contract between the Philippine Ports Authority (PPA) and ICTSI. The modernization effort will include investments in advanced cargo handling equipment, cutting-edge information technology systems, and enhanced civil infrastructure, setting a new benchmark for service quality in the region.

The Iloilo port, once lacking foreign container operations, has undergone a significant transformation. Modernization efforts have focused on upgrading port facilities, notably expanding existing berths to accommodate large foreign vessels and boost cargo capacity.
Further enhancing the port’s capabilities is the deployment of Mobile Harbor Cranes (MHCs) with a reach of 46 meters and a lifting capacity of 100 tons. This innovation significantly enhances the port’s flexibility, efficiency, and capacity to handle various cargo types, including containerized, bulk, general, and project cargo.

The modernized port is expected to generate over 3,000 jobs, directly and indirectly benefiting the region through a multiplier effect across related industries. The improved operational efficiency, expanded cargo handling capabilities, and enhanced connectivity promise to attract new investments across Panay and neighboring areas.

According to Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo, the project underscores the government’s vision to modernize port operations and logistics services to improve the Philippines’ rank in the logistics performance index.

“This initiative is vital to our national development, facilitating the movement of goods and people across our islands and strengthening our position in international trade,” said Undersecretary Rodolfo.

The project aligns with the PPA’s port modernization program, which aims to elevate port facilities and services to meet international standards. By encouraging private sector participation, the program seeks to provide world-class services and transform key Philippine ports into global trade hubs.

ICTSI, a leading global port operator, will oversee the project’s core services, which include infrastructure investment, port maintenance, container terminal management, and passenger terminal operations.

The government views the project as a significant step in positioning the Philippines as Southeast Asia’s premier hub for sustainable manufacturing and services. By fostering a cycle of sustained economic growth, the initiative is expected to transform the nation’s economy.

The transportation and storage sector contributed Php779.54 billion—or 4.1% of the country’s GDP—in the first three quarters of 2024, employing approximately 3.85 million Filipinos. The VCT Project will further bolster these figures, enhancing the industry’s impact on the national economy.

With its advanced capabilities and robust infrastructure, the VCT Project solidifies Iloilo’s role as a major trade and commerce hub in the Western Visayas region. The port’s modernization reflects the Philippine government’s dedication to fostering innovation, driving economic progress, and elevating the nation’s status on the global stage.