Recto courts US investors for Luzon Economic Corridor

Executive Secretary Ralph Recto urged American investors to set up operations along the Luzon Economic Corridor (LEC), saying investments could generate substantial jobs, develop Filipino talent and contribute to shared prosperity.

“That is the partnership we want—not just one business mission, but generations of investment, innovation, jobs, and shared prosperity between the Philippines and the United States,” Recto told American business leaders at the welcome reception for the 2026 Philippines Business Mission on 18 August 2026.

“Stay in the Philippines. Expand in the Philippines. And build your future in the Philippines,” Recto told members of the US-ASEAN Business Council (USABC), urging American companies to help transform the eight-decade Philippine-American alliance into a forward-looking economic partnership.

Recto said the LEC will connect Subic, Clark, Manila and Batangas into a hub for logistics, manufacturing, connectivity and innovation. The corridor is expected to generate up to one million jobs and help drive economic growth.

He also invited US companies to expand investments in electronics and semiconductors, particularly in advanced packaging, integrated circuit design, research and development, supply chain resilience, front-end semiconductor capabilities and critical minerals processing.

The Philippines, he said, aims to move beyond extracting and exporting critical minerals by building domestic capacity in processing, manufacturing and innovation.

“We want more factories rising here, critical minerals processed—not just extracted and exported. More electronics proudly made in the Philippines. And more Filipino engineers, technicians, and researchers given the chance to thrive,” Recto said.

He said the Pax Silica partnership provides opportunities for American companies to bring technology, capital, research and training to the Philippines.

“We do not want American companies to simply buy from the Philippines. We want you to bring your technology here. Bring your capital and research here. Train Filipino talent here. And build your next breakthrough here,” Recto said.

Recto acknowledged that investor confidence depends on a capable workforce, competitive costs, predictable regulations, reliable infrastructure and efficient government.

“Your confidence cannot be demanded. It must be earned. And that is exactly what we intend to do,” he said.

Recto said the Marcos administration is pursuing reforms to make investing in the Philippines easier, faster and more predictable, citing the CREATE MORE Act, Green Lanes for Strategic Investments and the Energy Virtual One-Stop Shop.

The government has also opened more sectors to foreign participation, including renewable energy and public services such as telecommunications, toll roads, airports and shipping.

Other measures include the Retail Trade Liberalization Act, reforms to the mining fiscal regime, the Capital Markets Efficiency Promotion Act and the Electric Vehicle Incentive Strategy Program.

Recto also asked business leaders to identify regulatory and infrastructure bottlenecks affecting their investments, including lengthy permitting processes, regulatory uncertainty and infrastructure gaps.

“Tell us which permit takes too long. Tell us which regulation creates uncertainty. Tell us which infrastructure gap raises your costs. Tell us where the government can do better,” he said.

“We will listen. We will act. We will do the handholding. And we will compete for your investment.”

Recto also highlighted the Philippines’ ASEAN chairship as an opportunity to advance regional trade, resilient supply chains, connectivity and digital standards supporting cross-border business.

He said stronger Philippine-American economic ties should be measured not only by capital inflows but also by jobs created, Filipino talent developed, industries strengthened and families whose lives are improved.

The Philippines Business Mission is an annual engagement organized by the USABC to strengthen US-Philippines economic and business relations. The council represents more than 180 global corporations operating across ASEAN and worldwide.