50 US firms eye investments in Luzon Economic Corridor

SUBIC BAY FREEPORT, Philippines — About 50 US companies are exploring investment opportunities in the Luzon Economic Corridor (LEC), with Subic Bay positioned as a key western gateway for logistics, maritime services and technology investments, the Subic Bay Metropolitan Authority (SBMA) announced on Sunday.

The companies were part of a delegation led by Thomas Hardy, deputy director and chief operating officer of the US Trade and Development Agency (USTDA), during the LEC Investment Forum held in this free port on Sept. 11.

Representatives of international companies, development partners and major financial institutions also joined the delegation, which met with SBMA officials, port operators and investors during business-to-business (B2B) sessions and a tour of the free port.

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The Manila forum, which preceded the Subic visit, highlighted investment opportunities and infrastructure projects being developed under the LEC.

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SBMA Chair and Administrator Eduardo Jose Aliño said the Subic forum provided foreign companies with an opportunity to assess investment prospects in Subic and explore potential partnerships within the corridor.

Opportunity

“As the host of the Subic leg of the LEC Investment Forum, this delegation has a unique opportunity to participate in meaningful B2B discussions, tour Subic Freeport, and explore avenues for deepening economic integration across the Luzon Economic Corridor,” Aliño said.

The LEC initially brought together the Philippines, the United States and Japan but has since expanded its network of partner countries to include Australia, Canada, Denmark, France, Italy, South Korea, Sweden and the United Kingdom.

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Aliño said Subic’s location makes it a strategic component of the corridor, linking major economic centers, including Clark, Manila and Batangas, through its western maritime gateway.

“This is excellent news for Subic Bay as a critical western maritime gateway and strategic logistics hub,” he said, adding that the free port was working to improve infrastructure, strengthen supply chain resilience and attract technology investments.

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Infra projects

The investment interest comes as the United States also moves to support specific infrastructure projects in Subic.

The USTDA recently announced that it would fund a feasibility study for the expansion of Subic Drydock Corp. (SDC), including a proposed 169-meter extension of its approach pier to allow the facility to accommodate larger vessels.

SDC owner Terry Watkins said the extension would enable the shipyard to undertake vessel repairs that are currently not possible because of draft and berth limitations, strengthening Subic’s capacity as a regional ship repair hub.

The study, to be conducted by California-based DM Consulting Inc., will also develop a construction-ready design package and financial analyses needed to help mobilize financing for the project.

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The agreement reflects the broader push to strengthen Subic’s maritime and logistics infrastructure as the free port takes on a larger role in the LEC. /cb