For many years, when we spoke of prosperity corridors, we imagined highways, ports, railways, industrial estates, and airports. These remain essential. Goods still need to move. Workers still need transport. Factories still need land, power, water, and logistics. But the next prosperity corridor in...
Eight more countries have joined the Luzon Economic Corridor (LEC) initiative as “valued partners,” as the Philippines, Japan, and the United States reaffirmed their commitment to accelerate infrastructure development and economic connectivity in the country. The development came during the 4th...
Sweden is looking to expand its economic cooperation with the Philippines through new investments and financial grants following its formal integration into the partnership for the development of Luzon Economic Corridor (LEC). “We do see this as a first step and we will, together with our...
The government expects the addition of seven partner nations to the Luzon Economic Corridor (LEC) to cement the region’s status as a primary investment magnet, a move officials say is vital for insulating the economy against persistent global volatility. Finance Secretary Frederick Go said the...
More than a year after an unsolicited proposal was first submitted, the Subic Bay Metropolitan Authority (SBMA) has formally launched the Swiss challenge for the ₱6.2-billion Subic Bay International Airport (SBIA) project, opening the door to rival bidders for an airport that would complement the...
The United States (US) and the Philippines are planning to establish a 4,000-acre, or a nearly 1,619-hectare (ha), industrial hub in Luzon aimed at strengthening supply chains for critical inputs, according to the US Department of State. In an April 16 fact sheet, the US State Department said the...
The Swedish government’s grant of $1.3 million for the Subic-Clark-Manila-Batangas (SCMB) railway project under the Luzon Economic Corridor underscores the strengthened cooperation between Sweden and the Philippines, its ambassador said. The Swedish Embassy in Manila, in a statement on Wednesday,...
The current flood control corruption scandal gripping the nation will pull down other countries’ level of interest in investing in the Philippines, Philippine Ambassador to Washington Jose Manuel “Babe” Romualdez. This admission came during a media interview about the trade relationship...
Amid allegations of massive corruption in the country’s infrastructure development projects, a visiting official from the United States underscored the need to ensure that its foreign aid to the Philippines will be spent with integrity. Principal Deputy Assistant Secretary of State for East Asian...
South Korean Ambassador to Manila Lee Sang-hwa said that there was a 4,000 percent increase in South Korea’s investment in the Philippines during the first quarter of this year because of the free trade agreement (FTA) that entered into force on Dec. 31, 2024. In a media luncheon on Tuesday,...
The United States has reaffirmed its support for the Luzon Economic Corridor, granting it an exemption under its economic assistance program to ensure the project’s continuity, Philippine Ambassador to the US Jose Manuel Romualdez. In a press conference in Washington, D.C., on the sidelines of...
Despite ongoing trade talks between the two countries, the United States has approved a $3.8-million grant for the Luzon Economic Corridor, which seeks to accelerate coordinated investments in high-impact infrastructure projects. Special Assistant to the President for Investment and Economic...
