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Jose Winylito Tanquis has reason to be proud as he raises a flag to signal the launch of the 58,000-tonOcean Symphony in the Philippines. Not only did he help build the cargo vessel, his son John works at the yard. “Now he can buy his own stuff, like shoes and clothes,” says Tanquis, 47, a foreman at the Tsuneishi Holdings yard in Balamban on Cebu island. At 21, John is the oldest of six siblings who will enter the workforce in the next decade.
The so-called demographic dividend, the benefit derived from an increasing supply of young workers, is one reason Japan’s second-largest shipbuilder expanded in the Philippines, where workers are on average half the age of its Japanese employees. Tsuneishi is considering Indonesia, the Philippines, and Myanmar for another shipyard, says Hitoshi Kono, chief of the company’s local operation.
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