Finance chief Go: Luzon Economic Corridor gaining strong traction

Finance Secretary Frederick Go on Sunday expressed optimism over the growing traction for the Luzon Economic Corridor (LEC) and prospects for boosting priority investments under the initiative.

He made the remarks after an April 14 meeting in Washington, D.C. with Ambassador Heather Variava, who was recently designated as advisor to the Assistant Secretary of State for Economic, Energy, and Business Affairs on the LEC.

The discussion focused on key upcoming milestones, including the LEC Steering Committee Meeting in May 2026 and the LEC Investors Forum scheduled for the second half of the year.

Both sides underscored the importance of these engagements in sustaining implementation and accelerating priority investments under the initiative.

In a statement, Go welcomed the continued engagement of partners for the initiative.

“The Luzon Economic Corridor continues to gain strong traction, with increasing support from like-minded partners and the private sector,” he said.

“We are encouraged by this growing momentum and remain committed to advancing concrete initiatives that will strengthen connectivity, attract high-quality investments, and create jobs across the region,” Go added.

For her part, Variava reaffirmed the United States’ commitment to sustaining momentum and delivering results through the initiative, adding that close coordination among partners is key to success.

To be held in Manila in May, the fourth Steering Committee Meeting will convene high-level delegations from the Philippines, the US, and Japan, and reflect continued trilateral coordination since the initiative’s launch in 2024.

The visit of US and Japanese delegations will include a series of meetings with Philippine counterparts, as well as site visits to priority project areas across the LEC.

Go said this is expected to further deepen coordination among the three countries and accelerate implementation of priority investments, particularly in infrastructure, energy, logistics, and industrial development.

In 2025, the US stepped up support through a $3.8 million technical assistance grant from the US Trade and Development Agency (USTDA) for the Subic-Clark-Manila-Batangas Railway, the LEC’s anchor project.

In addition, a $15 million allocation was announced by the US Department of State in coordination with the US Congress to catalyze private sector development in the LEC.

Launched in April 2024 by the Philippines, US, and Japan, the economic corridor is a trilateral initiative under the G7 Partnership for Global Infrastructure and Investment aimed at enhancing connectivity between Subic Bay, Clark, Manila, and Batangas.

It seeks to mobilize strategic investments and accelerate coordinated development of high-impact infrastructure projects, including rail, ports modernization, clean energy and semiconductor supply chains, agribusiness, and civilian port upgrades across the region. — JMA, GMA News