SEVEN more countries have pledged funding for infrastructure, rail, cybersecurity and green industry projects in the Luzon Economic Corridor (LEC), Finance Secretary Frederick Go said on Monday.
The LEC is a major infrastructure and development initiative launched in April 2024 by the Philippines, the United States, and Japan to boost economic connectivity, logistics and manufacturing across Luzon. It connects key hubs — Subic Bay, Clark, Manila and Batangas — to enhance supply chains, clean energy and agribusiness.
Go, who co-chairs the LEC Steering Committee, said Australia, Denmark, France, Italy, South Korea, Sweden and the United Kingdom have committed to the LEC partnership.
“The expansion of the LEC partnership demonstrates the power of collaboration among like-minded nations committed to transparency and shared prosperity,” Go said. “Together, we are building infrastructure that will improve daily life for millions of Filipinos and create new opportunities for businesses, industries, and communities in our partner countries and across the region.” Australia will mobilize investment through its Manila Deal Team and a new P1.9 billion ($32.6-million) partnership on inclusive economic growth.
Denmark will help revitalize Philippine shipbuilding and advance green maritime innovation, aiming to create 10,000 jobs.
France is financing 100 bridges through official development assistance and backing an aeronautics foreign direct investment project.
Italy will increase public financial support to spur private investment from Italian companies in transport, semiconductors and manufacturing.
South Korea committed a P1.5 billion ($25.6 million) grant for the establishment of the National Cyber Security Center and is backing the Ninoy Aquino International Airport modernization PPP project.
Sweden is funding a P74 million ($1.2 million) feasibility study on signaling systems for the Subic-Clark-Manila-Batangas freight railway.
The UK is deploying P411 billion ($6.8 billion) in export finance and technical assistance for infrastructure and energy.
“The expansion of the Luzon Economic Corridor partnership is creating real opportunities for US business, our Philippine partners, and investors across the Indo-Pacific while countering exploitative infrastructure practices with a better alternative,” US Senior Advisor for Economic, Energy, and Business Affairs Ambassador Heather Variava said.
"The expanded partnership reflects our shared vision for quality infrastructure development that respects transparency, sustainability, and the rule of law,” Japanese Ambassador to the Philippines Endo Kazuya said.
