50 US firms eye investments in Luzon Economic Corridor

SUBIC BAY FREEPORT — Around 50 companies from the United States are exploring investment opportunities in the Luzon Economic Corridor, with Subic positioned as a key logistics and maritime hub.

US Trade and Development Agency Deputy Director and Chief Operating Officer Thomas R. Hardy led a delegation during the Luzon Economic Corridor Investment Forum held here on 11 September.

The delegation also included businesses from other countries, development partners and financial institutions looking at possible investments in Subic Freeport and other areas covered by the corridor.

Subic Bay Metropolitan Authority Chairman and Administrator Eduardo Jose L. Aliño and other agency officials welcomed the delegation.

Subic Freeport investors, led by Subic Bay International Terminal Corp., also joined business-to-business meetings with the foreign companies.

“As the Subic leg of the Luzon Economic Corridor Investment Forum, this investment and business mission will have the opportunity to engage in B2B meetings, go around Subic, and explore ways of achieving economic integration in the LEC by checking out the many ways to invest here, how to invest here, and where and how to impact positively on the success of the LEC program,” Aliño said.

The forum is part of the Luzon Economic Corridor initiative supported by USTDA.

Aliño said the Subic visit reinforces the Freeport’s role in the corridor’s original partnership involving the Philippines, the United States and Japan.

The initiative has since drawn participation from Australia, Canada, Denmark, France, Italy, South Korea, Sweden and the United Kingdom.

“This is definitely good news for Subic as a vital western maritime gateway and strategic logistics hub within LEC, connecting with Clark, Manila, and Batangas; in order to drive infrastructure, supply chain resilience, and technology investments,” Aliño said.

USTDA also announced support for the expansion of port infrastructure in Subic Bay.

The agency said its assistance to Subic Drydock Corp. will fund a feasibility study aimed at strengthening the Philippines’ capacity to become a regional hub for ship repair and maintenance.

USTDA also signed an agreement with Philippine telecommunications company ComClark Network and Technology Corp. to fund a feasibility study for a nationwide network of paid public Wi-Fi access points.

The project will pilot AI-enhanced, US-made Wi-Fi access points in strategic locations across the country and is expected to provide internet connectivity to more than 600,000 Filipinos, including communities along the Luzon Economic Corridor.