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.
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