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Firms lining up for Luzon Economic Project, envoy says

A lot of companies have lined up to participate in the Luzon Economic Corridor (LEC), Philippine Ambassador to the US Jose Manuel ''Babe'' Romualdez has said. ''There are already a lot of companies that are lining up into working on projects and also locally, it will boost the economy in those areas,'' Romualdez told the Philippine media delegation in Washington D.C. The envoy, however, did not specify the companies that expressed intent to participate in the project. He said President Ferdinand ''Bongbong'' Marcos Jr. would meet with the potential investors as part of his official visit to the US. The LEC is a partnership with the United States and Japan, which was announced during the Trilateral Leaders' Summit in the United States in April of last year. This program seeks to connect Subic Bay, Clark, Manila, and Batangas with high-impact infrastructure projects including ports and railways. Finance Secretary Ralph Recto earlier said this project is envisioned to become a prime location for export-manufacturing firms, positioning the Philippines as Asia's top destination for cutting-edge production and innovation. —VAL, GMA Integrated News