A high ranking government official yesterday said it is time to promote the Luzon Economic Corridor composed of Clark, Subic and Batangas through connectivity infrastructure as Cavite and Laguna are now congested.
Secretary Frederick Go, Special Assistant to the President for Investment and Economic Affairs, said at the Philippine Economic Briefing, G7 countries have supported the Luzon economic corridor with a focus on a flagship project, a cargo rail connecting Clark and the ports of Subic, Manila and Batangas.
Last April, the governments of US, Philippines and Japan announced the Luzon Corridor project that intends to connect Subic Bay, Clark, Manila and Batangas through modern ports, railways, clean power projects and supply chain improvements to advance the semiconductor and other industries.
The investments are eyed to be part of the Partnership for Global Infrastructure and Investment that the Group of Seven nations of Canada, France, Germany, Italy, Japan, the United Kingdom and the US announced in 2022.
Go said the proponents, Philippines, Japan and the US are looking at what other businesses can be developed with particular interest in renewable energy.
“As industries are set up or are based around these four stops, there will be huge demand for green or sustainable energy,” said Go.
Go said there are also new areas for investments such as pharmaceutical.
Go said the $500-million investment of Cerberus and HD Hyundai Heavy Industries in Aguila Shipyard in Subic has started with three locators
“The shipyard has the longest dry dock. That is another competitive advantage for us,” he said, adding the project is seen employing 10,000 workers.
“(Luzon corridor) is really taking off. We have been promoting Cavite and Laguna for 30 years and has been successful but is quite congested now. It’s time to promote industries and investments to go to Batangas, Clark and Subic.
