Hanoi (VNA) – Philippine President Ferdinand R. Marcos Jr. met with US Undersecretary of State for Economic Growth, Energy, and the Environment Jacob Helberg in Malacañang Palace on May 19 to discuss expanding bilateral economic cooperation, including the Luzon Economic Corridor (LEC), which is projected to generate up to one million jobs for Filipinos.
Discussions centred on the LEC, Pax Silica initiatives, investment and technology partnerships, supply chain cooperation, and other key trade priorities between the Philippines and the US, according to the Presidential Communications Office (PCO).
The LEC is also envisioned to help drive double-digit economic growth in the country, the PCO said.
It is among the flagship initiatives jointly supported by the Philippines, the US, and Japan, aimed at accelerating infrastructure connectivity, semiconductor development, logistics modernisation, clean energy investment, and digital transformation in Luzon.
The meeting reaffirmed both countries’ commitment to strengthening economic and trade ties amid growing cooperation in strategic industries and emerging technologies.
The Philippines and the US are marking the 80th anniversary of diplomatic relations and the 75th anniversary of the Mutual Defence Treaty this year.
Malacañang said the milestone highlights the longstanding partnership that continues to expand beyond security into economic growth, innovation, and shared prosperity./.
