By el Amigo
MANILA – The Philippines is preparing to add another European country to the growing roster of partners supporting the Luzon Economic Corridor (LEC), Finance Secretary Frederick Go said Friday.
Go revealed the development during an economic forum conducted by the Economic Journalists Association of the Philippines (EJAP) at the Bangko Sentral ng Pilipinas (BSP) complex in Manila.
He said the identity of the European country will be made public during the LEC investment forum set for next month.
The LEC, introduced in April 2024 through the Partnership for Global Infrastructure and Investment (PGI), is designed to strengthen links among Subic Bay, Clark, Manila, and Batangas by encouraging investments in railways, energy, digital infrastructure, and manufacturing.
The initiative is also expected to open up thousands of quality jobs, reinforce supply chains, and enhance the Philippines’ position as an important economic hub within the Indo-Pacific region.
Go said the corridor initially had two partner countries—the United States and Japan. Eight more nations have subsequently joined the initiative: Australia, Canada, Denmark, France, Italy, South Korea, Sweden, and the United Kingdom.
These additions have brought the LEC’s current number of partner countries to 10.
The upcoming addition of another European partner is expected to broaden international cooperation and provide fresh opportunities for investments in infrastructure and other strategic economic projects along the corridor. (PNA)
elamigo/xf
