UK government wants active part in Luzon Economic Corridor

MANILA, Philippines —  The United Kingdom has expressed interest to be part of the huge task of developing the Luzon Economic Corridor, which will connect Luzon’s principal business hubs including Subic, Clark, Manila and Batangas (SCMB).

Representatives from the British Embassy in Manila have relayed this intention to the Luzon Economic Corridor Steering Committee which recently held its initial meeting during the Indo-Pacific Business Forum in Manila.

The UK’s involvement in the development of the growth corridor is through the British Investment Partnerships (BIP), which has previously and currently providing ODA technical assistance and financing facilities to the SCMB Corridor.

The British government’s intent to take an active part in the Luzon Economic Corridor was confirmed by Special Assistant to the President for Investment and Economic Affairs Frederick Go during a plenary discussion in the Philippine Economic Briefing held earlier this week.

“The GIP is actually the G7 partnership for Global Infrastructure development, so it can involve up to seven countries. So far the active participants are the United States, Japan. I understand that the UK also called in to ask and see how they can participate as well. The focus areas of the G7 will be in ports, rails, renewable energy, and infrastructure, in general,” Go said.

While the project is meant to boost economic growth in the region, focusing on various industries that will provide employment and livelihood opportunities to residents of all areas to be traversed by the project, all eyes are on the railway facility that, once completed, will ensure even greater ease of doing and transporting business in the country.

“The flagship project that they are looking at will be the rail connecting the Subic Port to Clark Airport to the Manila Port and to the Batangas Port,” Go said.

The formation of the steering committee was the outcome of trilateral leaders’ commitment in April to develop the Luzon Economic Corridor under the Partnership for Global Infrastructure and Investment (PGI) Indo-Pacific Economic Framework (IPEF) Investment Accelerator. It is scheduled to meet again later this year to ensure progress is made after the discussions.