The U.S. and Japan are interested in helping to fund at least $15 billion worth of projects on the Philippines’ main island, in signs that enhanced security ties are leading to greater economic benefits, according to Philippine President Ferdinand Marcos Jr.’s investment czar.
The three nations will prioritize five major projects in the Luzon Economic Corridor plan, which may well turn out to be Marcos’ flagship investment program, said Secretary Frederick Go, who advises the president on the economy.
The list includes a cargo rail linking Luzon’s major ports estimated at $11 billion and a renewable energy project, he said.