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Manila Bulletin devider Business devider Recto: Luzon economic corridor to boost investments

Recto: Luzon economic corridor to boost investments

Published Jun 6, 2024 07:22 am

The Department of Finance (DOF) expects the Luzon Economic Corridor project will attract investments that support the vibrant labor market in the Philippines. 

In a statement on Thursday, June 6, Finance Secretary Ralph G. Recto said that the project focuses on boosting job creation in the manufacturing and construction sectors.

These new jobs come amid massive infrastructure developments along the corridor and investment opportunities in key economic hubs that create a high demand for skilled and unskilled workers.

The government-led initiative is seen as a catalyst for inclusive development, benefiting Filipinos across the country, the finance chief said.

The Luzon Economic Corridor, the first of its kind in the Indo-Pacific region under the Partnership for Global Infrastructure and Investment (PGI), will link Subic Bay, Clark, Manila, and Batangas. 

Recto said this will lead to increased investments in key infrastructure projects like railways, ports, clean energy, semiconductor supply chains, and agribusiness, driving economic growth in each hub.

With a focus on becoming a top destination for export-manufacturing firms, the Philippines aims to position itself as a leader in production and innovation in Asia. 

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Department of Finance (DOF) ralph recto Finance Secretary Luzon Economic Corridor
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