The planned Pax Silica Initiative in New Clark City must come alongside broader transparency reforms within the government, Makati Business Club (MBC) Chair Edgar Chua said.

“[B]ottom line, we believe in MBC is that Pax Silica, and the Luzon Economic Corridor [are opportunities] for our country to be able to realize the potential that we have always been missing,” he told members of the press in Makati last Thursday.

“I think they only need to be more transparent and communicate better, because there are some concerns about environmental impact, about whether it's providing high-value employment, et cetera,” Chua added.

Pax Silica is a US-led initiative focused on artificial intelligence (AI) and supply-chain security. The Philippines formally joined the initiative in April alongside 23 other signatories, including the European Union, Israel, Japan, India, Singapore, South Korea and the United Kingdom.

The 4,000-acre industrial hub in New Clark City, envisioned as an AI-focused investment and manufacturing center within the Luzon Economic Corridor, has drawn concerns over dependence on foreign capital and US strategic interests, as well as potential pressures on land, water, agriculture and Indigenous communities.

Following President Marcos’ 2026 State of the Nation Address last July, MBC commended him for positioning the proposed initiative as a platform “for advanced manufacturing, logistics, semiconductors, artificial intelligence, and higher-quality employment.”

However, the group said the President missed the opportunity to distinguish “the function of LEC and Pax Silica from typical PEZA zones,” as well as to provide a broader roadmap of safeguards.

Chua said the broader Pax Silica initiative comes at a time of heightened foreign investor apprehension, mainly due to ongoing governance concerns. He added that MBC has been strongly advocating for broader reforms to freedom of information laws, which may help restore investor confidence.

“The good thing is both chambers of Congress have already passed their own versions of the right to information bill. This is the closest that our country has ever reached as far as passing this landmark transparency law over the last 15 years,” he said.

“[I]t's so important to discuss because in our country it's often difficult to confirm some information. And when we invite investors to come in, many of them get surprised … that they didn't realize there were certain things that are in the law or are required.”

For its part, the government has said Pax Silica could help move the Philippines into higher-value manufacturing and technology while making the country more competitive through exports, which may in turn help support the local currency, currently at record lows.

The BCDA said the Philippines and the US were “eyeing a November signing” for the Pax Silica framework agreement.