Spain, EU join Luzon Economic Corridor
The Luzon Economic Corridor initiative has welcomed the European Union and Spain as its newest partners.
The European Union and Spain have joined the Luzon Economic Corridor (LEC) initiative, adding their expertise, technology and capital to investment opportunities totaling over $20 billion. LEC, launched by the Philippines, US and Japan in April 2024, aims to strengthen connectivity and infrastructure across Luzon's growth centers.
Finance Secretary Frederick Go praised the EU and Spain's participation, stating it validates the Philippines' economic potential. The initiative, supported by Australia, Canada, Denmark, France, Italy, South Korea, Sweden and the UK, welcomed the EU and Spain to further expand its expertise and resources. With the EU's €60-million Green Economy Program and €20-million Digital Economy Package aligned with LEC priorities, Spain will contribute to projects in railways, aviation, shipbuilding, renewable energy and modular infrastructure.
The inaugural LEC Investment Forum showcased priority projects in energy, transport, logistics, digital connectivity and advanced manufacturing, inviting private sector participation in various capacities.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
