Economics
US, Japan Keen on $15 Billion Philippine Projects as Ties Grow
- UK also interested to invest in Luzon Economic Corridor
- Marcos’ economic adviser seeks to reduce costs for investors
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The US and Japan are very interested to help fund at least $15 billion worth of projects on the Philippines’ main island, in signs that enhanced security ties are leading to greater economic benefits, according to President Ferdinand Marcos Jr.’s investment czar.
The three nations will prioritize five major projects in the Luzon Economic Corridor plan which may well turn out to be Marcos’ flagship investment program, said Secretary Frederick Go who advises the president on the economy. The list includes a cargo rail linking Luzon’s major ports estimated at $11 billion and a renewable energy project, he said.