Executive Secretary Ralph Recto urged international business leaders to translate their interest in the Luzon Economic Corridor (LEC) into tangible investments, promising streamlined administrative procedures and swift resolution of regulatory barriers.
Speaking at the initial LEC Investment Forum welcome event at the Ayuntamiento de Manila, Recto highlighted that the project holds full support from President Ferdinand Marcos Jr. and possesses the potential to create up to one million local jobs.
The project intends to link Subic, Clark, Metro Manila, and Batangas into a singular economic zone backed by modernized logistics, robust power grids, digital networks, and skilled labor.
Key developments include a 1,600-hectare technology hub in New Clark City designated for semiconductor fabrication, advanced manufacturing, and artificial intelligence, which alone is projected to create 130,000 jobs.
“Let me assure you: the Philippine Government is ready to match your long-term investment for the Filipino people with long-term commitment,” Recto said.
Backed by global partners—including the United States, Japan, Australia, Canada, Denmark, France, Italy, South Korea, Sweden, and the United Kingdom—the initiative aims to integrate the country further into regional supply lines.
“Through this, the Philippines will help power the Indo-Pacific’s progress, strengthen its supply chains, and shape its long-term prosperity,” he said.
To support investors, Recto pointed to structural updates implemented under the current administration, such as foreign ownership expansions, optimized approval pathways, and refined incentive structures.
“We will bring the right people to the table. We will get agencies working together. And we will work hard to resolve the bottlenecks,” he noted, pressing delegates to present actionable plans rather than passive commitments.
“Bring us your serious proposals. Bring us your biggest and most exciting ideas,” Recto added. “And in return, you will find a Philippine Government with the strong political will, the urgency, and the determination to help make them happen.”
Recto noted that this economic framework will eventually be replicated across the central and southern Philippines.
“Luzon is only a starting point. The same vision will soon extend to the Visayas and Mindanao,” Recto said.
The reception preceded the main investment forum, where President Marcos delivered the keynote address to roughly 600 global delegates, corporate leaders, and diplomats.
Prominent attendees included Special Assistant to the President for Investment and Economic Affairs Frederick Go, US Ambassador Lee Lipton, former US Ambassador Heather Variava, Japanese Embassy Chargé d’Affaires ad interim Ono Sho, and Private Sector Advisory Council Lead Convener Sabin Aboitiz.