Trade Secretary Alfredo Pascual touted $3.53 billion investments in the Luzon Economic Corridor that could impact on the attractiveness of Clark.
In his speech at the groundbreaking ceremonies of the expansion facility of Yokohama Tires Philippines Inc. at the Clark Freeport zone yesterday, Pascual said the recent Trilateral Summit between the Philippines, Japan, and the United States will significantly impact foreign investments in the Luzon Economic Corridor and beyond.
“(This) is very important for our development and could be a bigger area that will be developed here in this region.
This initiative highlights the Luzon Economic Corridor’s critical role in hosting the Philippines’ export manufacturing and high-tech industries,” Pascual said.
In this Luzon Economic Corridor, three major projects are planned.
The biggest is the $3.2 billion Subic-Clark-Manila-Batangas Railway System which will link major ports and industrial zones by 2026.
The second project is the $179-million expansion of Clark International Airport, including a new runway and enhanced logistics capabilities, also scheduled for completion in 2026.
The third is the $152 million Clark National Food Hub, aimed at establishing regional leadership in agribusiness logistics by 2026.
