THE United States and Japan vowed support for the Luzon Economic Corridor (LEC) which is expected to strengthen regional supply chains and ensure shared economic security, Malacañang said on Thursday.
Washington and Tokyo, through their top envoys in Manila, reaffirmed their support for the economic initiatives of President Ferdinand Marcos Jr. during the LEC Investment Forum in Taguig City.
“The United States alliance with the Philippines remains ironclad. The United States is all in, sir,” Lipton told the president. “We fully support President Marcos’ Build Better, More agenda,” Japan’s Chargé d’Affaires ad interim Ono Sho said.
“What’s good for the Philippines is good for all of us,” said visiting US Trade and Development Agency (USTDA) Deputy Director and Chief Operating Officer Thomas Hardy.
He said USTDA would conclude agreements during the forum supporting the expansion of port facilities in Subic Bay and the establishment of a nationwide network of public Wi-Fi access to further attract investment.
Lipton said the LEC could help bring together investments, infrastructure and jobs, particularly in Subic, Clark, Manila and Batangas, while supporting emerging industries such as semiconductors, artificial intelligence and trusted technologies.
Ono said that Japan stands ready to work with the Philippines, the US, international institutions and the private sector to mobilize finance, technology and expertise and ensure that LEC projects are “bankable, implementable, and impactful.” The LEC, Ono added, is a “pivotal initiative to accelerate the Philippines’ economic growth and connectivity and to unlock the immense potential of this region.”
Ono noted the participation of Japanese companies and investors in the forum, saying their presence “vividly underscores the inherent attractiveness and paramount strategic importance of the corridor.”
The LEC Investment Forum brought together government officials, investors, developers and business leaders from the Philippines, the US, Japan and other countries to explore investment opportunities and partnerships aimed at advancing the corridor’s development.
