MANILA - All offers from potential buyers of a strategically located but debt-laden Philippine shipyard will be welcome, the country's Trade Minister said on Thursday , ruling out barring Chinese firms over national security fears.
Subic is considered an important asset because of the bay's shelter, deep water and access to the South China Sea. Defence Secretary Delfin Lorenzana, has voiced his support for the shipyard to be controlled by a Philippine entity, possibly with the navy buying a stake and using it to build vessels.
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