Inauguration of the Expanded Petrochemicals Manufacturing Complex of JG Summit Olefins Corporation

Barangay Simlong, Batangas City
January 19, 2024
President Ferdinand R. Marcos Jr. commended the JG Summit Olefins Corporation (JGSOC), a subsidiary of JG Holdings, Inc. (JGSHI), for achieving another milestone with the inauguration of the expanded Petrochemicals Manufacturing Complex during a ceremony in Barangay Simlong, Batangas City on January 19, 2024.
“What you have built here is more than a cutting-edge technology. It is a testament to Filipino skill, a proof of business confidence, an example of manufacturing resurgence, and a realization of the vision of a great Filipino industrialist, the patriot John Gokongwei,” the President said, recognizing John Gokongwei’s invaluable contributions to the country’s manufacturing industry and his legacy in improving the lives of the Filipino people.
He emphasized the crucial role of the facility in providing key ingredients used for the production of common plastics that are part of the Filipinos’ daily lives and how, as an upstream industry, it supports various enterprises and supplies manufacturing companies, calling it one of the linchpins of the country’s industrialization. He also shared that the industry is projected to enrich the country’s economy by PhP215 billion in the following year.
The Chief Executive mentioned the recent appointment of Department of Finance (DOF) Secretary Ralph Recto, who hails from Batangas, and Special Assistant for Investment and Economic Affairs Secretary Frederick Go, both of whom he trusts to elevate the country’s economy.
“Together with the rest of the economic team, they will continue to create a climate that propels economic growth, boosts incentives, promotes ease of doing business and funds high-impact infrastructure. The bottom line of their assigned mission is this: to reduce red tape that chokes industry and innovation, and replace it with a red carpet that ushers in capital, foreign and domestic, and provides the path towards progress,” he said.
Concluding his remarks, President Marcos Jr. conveyed his heartfelt gratitude to the men and women of JGSOC for their contribution in pursuing a national mission, to the local government of Batangas for hosting one of the country’s critical enterprises, and to the Gokongwei Family for their bold investments that enhance the country’s global business appeal as it continues to position itself as a global investment hub.
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