00:00 The country's economy soaring to the top in the ASEAN region and a two and a quarter
00:05 full jump in foreign investments in the last two years are not mere coincidence or happenstance,
00:12 but one earned through hard work.
00:14 And in last month's trilateral summit in Washington, D.C., both President Joe Biden
00:20 and Japanese Premier Fumio Kishida vowed President Ferdinand R. Marcos Jr. of increased support
00:26 to grow the energy sector, ramp up semiconductor production, and increase digital connectivity
00:33 in the Luzon Corridor as our Soojin Kim lays out in this story.
00:38 Japan, America, and the Philippines are working together to support connectivity within the
00:44 Luzon Corridor.
00:45 This, as both economic powerhouses express support for President Ferdinand R. Marcos
00:50 Jr.'s Build Better More program.
00:52 It definitely links into the Marcos administration's efforts to create an enabling environment of
01:00 infrastructure for businesses to thrive.
01:03 We're doing everything that's needed to make the conditions attractive to foreign investment.
01:13 This trilateral cooperation will pave way for more ports, railways, clean energy systems,
01:19 and semiconductor supply chains in the Subic, Manila, and Batangas ports, three of the most
01:24 active in the country.
01:26 The rail project is intended to multiply business opportunities in the area, which would generate
01:31 at least 5,000 jobs and consequently energize both the local and national economies.
01:37 With the vision of President Marcos of putting faster, accelerating the regulatory changes,
01:45 the ease of doing business, to build out the infrastructure that's necessary for them to
01:50 make the investment.
01:51 Building on Japan's quality infrastructure assistance, we look forward to pursuing synergies
01:58 among efforts of the three countries.
02:00 The Luzon Economic Corridor will allow for reduced logistical costs, cost of doing business,
02:05 and cost of goods, which would result in a drop in prices in the market.
02:10 Moreover, this move will decongest traffic, depopulate the metropolis, and improve quality
02:15 of life, providing timely solutions for Filipinos.
02:20 There are so many companies that are looking for something like this.
02:24 The Luzon Economic Corridor will spur development outside Metro Manila while serving as an engine
02:30 for growth in the entire Luzon.
02:32 Sujin Kim from the National TV Network for the New and Better Philippines.
