State-run Bases Conversion and Development Authority expressed optimism on the growth of the Central Luzon Economic Corridor with the support of the United States and Japan.
Among the components of the newly-launched corridor are the Subic-Clark Railway Project (SCRP), the expansion of Clark International Airport and the development of the Clark National Food Hub.
The economic corridor is the first project under the Group of Seven’s (G7) Partnership for Global Infrastructure and Investment (PGII) in the Indo-Pacific region.
BCDA president and chief executive Joshua Bingcang said the endorsement from the US and Japan would accelerate the project development.
“We are confident that the inclusion of SCRP, expansion of Clark International Airport and the Clark National Food Hub in the proposed Luzon Economic Corridor will help us accelerate the implementation of these game-changing infrastructure projects, not just for the country but for the whole Indo-Pacific region,” said Bingcang.
A joint vision statement released by the White House following a trilateral meeting in April said the three countries would “accelerate coordinated investments in high-impact infrastructure projects” within the Luzon Economic Corridor.
The corridor will connect major economic hubs in Luzon including Subic Bay, Clark, Manila and Batangas.
SCRP will provide initial freight service between key economic zones and connect Subic Port with Clark International Airport. The expansion of Clark International Airport includes the construction of a second runway, taxiways, aprons and improved landside access to cater to major logistics firms in Clark.
The Clark National Food Hub aims to establish the Philippines as a leading agricultural resource hub in the region. The food security project will be located in a 64-hectare plot within the Clark Airport compound.
BCDA said the three high-impact projects are among its contribution to the efforts of the government to drive sustainable and inclusive economic growth and make the Philippines a top investment destination.