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Friday, June 14, 2024

United States, Philippines, and Japan Launch the Luzon Economic Corridor Steering Committee to Drive Infrastructure Investment

On the sidelines of the Indo-Pacific Business Forum in Manila, U.S. Senior Advisor to the President for Energy and Investment Amos Hochstein, along with Acting Special Coordinator for the Partnership for Global Infrastructure and Investment (PGI) Helaina Matza, joined fellow co-chairs Philippine Senior Advisor to the President for Investment and Economic Affairs Frederick Go and Japan Ministry of Foreign Affairs Director-General for International Cooperation Bureau Ishizuki Hideo for the inaugural Luzon Corridor Steering Committee meeting, to drive infrastructure investment and development along the Corridor.

The Steering Committee aims to implement the Trilateral Leaders’ commitment in April to develop the Luzon Economic Corridor under the PGI Indo-Pacific Economic Framework (IPEF) Investment Accelerator. The partners discussed priority sectors for engagement and reviewed potential projects and areas of interest, committing to future meetings on a quarterly basis.

The Luzon Economic Corridor is the first PGI economic corridor in the Indo-Pacific region. The Corridor will support connectivity among Subic Bay, Clark, Manila, and Batangas as well as facilitate strategic, anchor investments within each hub in high-impact infrastructure projects, including rail, port modernization, agribusiness, and clean energy and semiconductor supply chains and deployments.

Official news published at https://www.state.gov/united-states-philippines-and-japan-launch-the-luzon-economic-corridor-steering-committee-to-drive-infrastructure-investment/

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