The US Trade and Development Agency, which funds early technical work to prepare infrastructure projects for investment, committed support for the expansion of a ship-repair facility there.
The move builds on Subic’s wider industrial revival, with US-based Cerberus Capital Management controlling the former Hanjin shipyard, now called Agila Subic, and South Korea’s HD Hyundai rebuilding large-scale shipbuilding operations at the site.
A corridor built around investment
The Subic initiative was unveiled at the inaugural Luzon Economic Corridor Investment Forum, which brought more than 600 investors, executives and government officials to Manila.
“The United States is all-in on the Luzon Economic Corridor because it’s good for the Philippines and good for America,” said US Ambassador Lee Lipton.
“It means more investment, stronger supply chains, and high quality jobs in both our countries.”
Beyond Subic
Washington and Manila also signed a $60-million program through the Millennium Challenge Corp., a US foreign-assistance agency, to improve energy-sector governance and address costly and unreliable electricity, while USTDA backed a pilot using AI-enhanced, US-made Wi-Fi access points.
The international coalition behind the corridor widened as the European Union and Spain joined Australia, Canada, Denmark, France, Italy, South Korea, Sweden and the United Kingdom.
“We are working toward tangible results: better infrastructure, stronger connectivity and supply chains, more investment, more jobs, and greater opportunities for the Filipino people,” Finance Secretary Frederick Go said.
“The Luzon Economic Corridor is a prime example of such cooperation, which holds significant potential to enhance connectivity and promote further economic development in the Philippines,” said Japan’s Chargé d’Affaires ad interim Ono Sho.
“Japan looks forward to this Investment Forum serving as a platform to connecting public- and private-sector stakeholders, creating new investment and business opportunities, and contributing to enhanced connectivity across Luzon.”
—Edited by Miguel R. Camus
