
Initially envisioned as a connectivity project linking three main ports and two international airports across four cities on Luzon, the Philippines’ main island, the corridor is now also drawing investments in energy, digital systems, cybersecurity, shipbuilding and advanced manufacturing.
Advertisement
The inclusion of more countries in the development reflected growing confidence in the Philippines as an economic and security partner in the Indo-Pacific, said Dindo Manhit, president of Manila-based think tank Stratbase ADR Institute.
The US embassy in Manila said in a statement on Tuesday: “Through coordinated investments in transport infrastructure, energy systems, digital connectivity, and advanced manufacturing supply chains, the LEC will create thousands of high-quality jobs and transform Luzon into a more prosperous and interconnected region.”
Advertisement
Philippine Secretary of Finance Frederick Go said in the statement that the expanded LEC showed the commitment of “like-minded nations” in “shared prosperity”

Don't Miss:
-
Hong Kong finance chief says economy grew in third quarter, warns of external risks
-
Despite rising yields and political gridlock, France not facing a debt crisis: analysts
-
Nobel Chemistry Prize awarded to Henri B. Kagan and Kenso Soai
-
Ex-Buddhist monk who founded Thai Aids hospice convicted of embezzlement
-
Nasa releases striking image of dawn on Mars

How Real Is the US Withdrawal from the Middle East?
From Iran to China: An Emerging Trans-Central Asian Corridor
New documents show how a retail chain’s sales practices helped put guns on US streets