More countries keen on Luzon Economic Corridor

Several countries have expressed desire to participate in projects in the Luzon Economic Corridor (LEC), which seeks to connect Subic Bay, Clark, Manila, and Batangas with high-impact infrastructure projects including ports and railways.

Representatives from Australia, South Korea, Sweden, the United Kingdom, were reported to have expressed possible partnerships in the LEC, during a joint exploratory meeting in Malacañang last week.

Australian Charge d’Affaires Moya Collet cited the focus on increasing trade and investment ties with the Philippines, as the country is set to invest over P20 billion to assist the country in achieving its development goals in the next five years.

Korean Ambassador to the Philippines Lee Sang-Hwa noted commitments on sustainable infrastructure investments, along with the partnerships involving the Light Rail Transit, the North-South Commuter Railway Project, and the Laguna Lakeshore Road Network.

Sweden Trade Commissioner Johan Lennefalk noted the commitment to foster inclusive economic growth, and initiatives including the feasibility study for a freight railway project, and projects on healthcare and mining.

Ambassador of the United Kingdom to the Philippines Laure Beaufils cited ongoing investments in renewable energy, green infrastructure, and transport, along with the financing of sustainable development initiatives in mining and technical security partnerships.

“The LEC, which is the first of its kind in the Indo-Pacific Region, has been gaining ground and receiving strong support from its partners,” Special Assistant to the President for Investment and Economic Affairs Frederick Go said.

“We are happy that several other countries have signified their desire to contribute to the development of the Corridor,” he added.

The LEC is a partnership with the United States and Japan, which was announced during the Trilateral Leaders’ Summit in Washington DC in April.

“The commitment from these like-minded partners signals a robust future for the LEC, promising enhanced infrastructure, sustainable development, and strengthened economic ties across borders,” Go said.

Go earlier this month expressed confidence that the LEC would continue amid leadership changes in the US, with Donald Trump set to return to the White House. —Jon Viktor Cabuenas/RF, GMA Integrated News