Luzon Economic Corridor Welcomes EU, Spain to Boost Investments
The Luzon Economic Corridor (LEC) initiative, led by the Philippines, has welcomed the European Union (EU) and Spain as new partners. This expansion aims to boost infrastructure investment, strengthen supply chains, and enhance the Philippines' position as an investment hub, with over $20 billion in investment opportunities available to the private sector.
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- EU, Spain back Luzon Economic Corridor as partners expand
The European Union (EU) and Spain have officially joined the Philippines' Luzon Economic Corridor (LEC) initiative as partners, expanding the project that initially started as a trilateral effort among the Philippines, the United States, and Japan to 13 members. This expansion aims to bolster infrastructure investments along the Subic-Clark-Manila-Batangas growth belt, leveraging the expertise and resources of the new partners. However, the initiative also faced local opposition, leading to protests and arrests outside an investment forum.