By Benjamin Cuaresma
MANILA — The Luzon Economic Corridor (LEC) is gaining stronger international backing after seven more countries officially joined the infrastructure and investment partnership led by the Philippines, the United States and Japan.
Australia, Denmark, France, Italy, South Korea, Sweden and the United Kingdom are now part of the growing alliance aimed at accelerating economic development across Luzon.
Launched in April 2024, the LEC is considered the first major Indo-Pacific initiative under the G7 Partnership for Global Infrastructure and Investment. The project seeks to improve connectivity between Subic, Clark, Manila and Batangas through large-scale infrastructure modernization.
Government officials said the expanded partnership is expected to generate thousands of jobs, attract more foreign investments and strengthen transport, energy and digital infrastructure across the country’s main economic corridor.
Finance Secretary Frederick Go said the growing list of partner nations shows increasing global confidence in the Philippines and the region’s long-term economic potential.
He added that the collaboration among allied countries promotes transparency, shared prosperity and sustainable economic growth for millions of Filipinos.
Under the partnership, participating countries will provide financing support, technical assistance and private sector investments for strategic infrastructure projects.
Australia is boosting investments through its Manila Deal Team and a P1.9-billion partnership program focused on inclusive economic growth.
Denmark is supporting a shipbuilding initiative expected to create around 10,000 jobs.
France will finance the construction of 100 bridges and support industrial development projects in the aeronautics sector.
Italy is expanding financial support to encourage investments in transportation, semiconductors and manufacturing industries.
South Korea is contributing to transport and digital connectivity projects, including support for the National Cyber Security Center and the modernization of Ninoy Aquino International Airport through a public-private partnership.
Sweden is funding a feasibility study for the Subic-Clark-Manila-Batangas freight railway system, considered one of the flagship projects of the corridor.
Meanwhile, the United Kingdom is extending technical assistance and up to P411 billion in export financing to help mobilize investments in infrastructure and energy projects.
US senior advisor Heather Variava said the expanded partnership demonstrates how allied nations can work together to promote fair and transparent infrastructure development while creating economic opportunities across the Indo-Pacific region.
ia/xf
