As one of 13 primary LEC partners, Italy is actively exploring strategic investment opportunities within the corridor.
Finance Secretary Frederick D. Go, who serves as the Philippine chair of the LEC, recently met with Italian trade representatives to discuss prospective projects and key sectors for collaboration, the DOF said in a statement.
Strategic sector partnerships
The high-level meeting convened leaders from 10 major Italian enterprises, including industrial heavyweights Fincantieri, CESI SpA, SIAD Macchine Impianti, and MERMEC Group. These companies represent vital growth sectors such as transportation, shipbuilding, energy, water management, advanced underwater technologies, irrigation, and engineering services.
Reinforcing the delegation were Italy’s premiere trade and financial institutions: Cassa Depositi e Prestiti (CDP), SIMEST, SACE, and the Italian Trade Agency (ITA). Together, this public platform delivers customized financing, guarantees, and specialized financial instruments designed to fast-track the global expansion of Italian businesses into emerging markets.
"We welcome all investments in the country, especially those that create good, quality job opportunities for our people," Secretary Go stated, emphasizing the government's focus on sustainable employment.
Unlocking infrastructure potential
During the session, the Philippine LEC Core Team presented a range of targeted projects suitable for Italian participation through direct investment, technical expertise, and financing options. Among the key developments highlighted by the Privatization and Partnerships Group, led by Undersecretary Catherine L. Fong, was the North–South Commuter Railway Project—a central pillar of the nation's infrastructure pipeline designed to enhance mobility and trade across Luzon.
Italian Ambassador to the Philippines Davide Giglio expressed strong optimism regarding the partnership. "We believe the Luzon Economic Corridor is a unique opportunity for greater involvement of Italian businesses in this country. The companies present today are a vote of confidence showing commitment and interest in our long-term partnership," Giglio noted.
Go reaffirmed the administration's policy direction to support foreign investors. "Our role is clear: to attract investments to the Philippines. Our job is to promote ease of doing business, reduce costs, and make doing business in the country more predictable," Go added. The meeting also featured key insights from Department of Trade and Industry Undersecretary Ceferino Rodolfo and Board of Investments officials. — Ed: Corrie S. Narisma
