PASAY CITY — The Steering Committee of the Luzon Economic Corridor has been presented with fifteen new projects during its recent meeting, adding to the ongoing development initiatives in the region, announced Frederick Go, Special Assistant to the President for Investment and Economic Affairs.
According to Philippines News Agency, speaking at the Franchise Asia Philippines 2024 International Franchise Conference, these new proposals come on top of the 28 projects initially introduced at the committee’s first meeting in May. “We presented 28 before plus 15 now. So that’s a total of 43, right? But the idea now is they’ve seen all of it and they’re going to narrow it down. I really think at the end of the day, the ideal number should be around five or six,” he explained to reporters. Among the projects under consideration are submissions from the Subic Bay Metropolitan Authority, the Department of Energy, and the Department of Public Works and Highways.
One significant project already identified as a priority is the rail initiative connecting Subic in Zambales to Batangas province, which highlights the strategic focus on improving infrastructure within the Luzon Economic Corridor. Go emphasized the importance of energy projects in driving the development of the corridor, which is expected to bolster economic growth across the western parts of Luzon.
The Luzon Economic Corridor initiative is a direct outcome of the Trilateral Leaders’ Summit involving the Philippines, the United States, and Japan, aiming to attract substantial investments into the region. The Steering Committee is scheduled to convene for its third meeting in November to further refine and advance these strategic projects.