President Ferdinand Marcos Jr. wants the public and private sectors to work together to open up the economy since there are things private groups can do better than the government — port operations being one of them.

Marcos made the remarks during his meeting with India-based Adani Ports and Special Economic Zone Limited (APSEZ Ltd.) earlier this week, where APSEZ Managing Director Karan Adani expressed interest in developing ports in Bataan.

During the meeting, Marcos said the government is improving the country’s gateways as his administration continues to open up the Philippine economy.

He said he wants tourists, business visitors, and agricultural goods to get from one place to another affordably and reliably.

However, the President acknowledged the government cannot do everything on its own. He suggested that private firms could start in the port and agriculture sector, where they can ship commodities within the country before moving on to the foreign market.

“I always say in my speeches I consider the private sector a full partner in this — it’s a 50/50 agreement. The government cannot do everything and there are many things that the private sector does better than government. So we should recognize that,” Marcos said.

He welcomed APSEZ’s expansion plans in the Philippines.

“Your Excellency, as a private sector, what we always look for is stability. Stability in the regulation, stability in the environment that we are operating in. That is what, as you said, you are providing,” Adani told Marcos.

He said APSEZ was looking at Bataan for port development because it might be an excellent opportunity for the business.

The company wants to build a 25-meter deep port that can fit Panamax vessels. The Adani Group also wants to invest in power, security, and airports.

APSEZ Ltd., which was incorporated as the Gujarat Adani Port Ltd. in May 1998, is one of the largest commercial port operators in India accounting for nearly one-fourth of the cargo movement in the country.

Gujarat Adani Port Ltd. was the name of the company that became APSEZ Ltd. in May 1998. It is India’s biggest commercial port and handles about a quarter of all the cargo that moves through the country.

Gautam Adani started the Adani Group in 1988. Its main office is in Ahmedabad, Gujarat, India.

Its businesses include energy, ports and logistics, mining and resources, gas, defense and aerospace, and airports. It is made up of several publicly traded companies with a market value of more than US$242.73 billion.