Jose T. Pardo, chairman of the Philippine Stock Exchange, expressed strong support for the ambitious Luzon Economic Corridor (LEC), urging local business leaders to remain actively involved in what he described as a development strategy with the potential to drive sustained economic growth in the country.
In a guest message during the 47th National Conference of Employers, Pardo, who led the successful entry of the 7-Eleven franchise into the Philippines, said that LEC is “one bold investment now on the table … that warrants our attention and our vigilance.”
The LEC, which will connect Metro Manila, Clark, Subic Bay, and Batangas, is currently backed by 10 participating countries. Its anchor project is the proposed AI Innovation Hub on a 4,000-hectare property in New Clark City.
Pardo said the corridor goes beyond infrastructure, describing it as a broader development strategy aimed at adding value to the country’s raw mineral exports while expanding rail, energy, digital connectivity, and manufacturing capabilities across western Luzon. He added that the project could also create opportunities in artificial intelligence and machine learning.
The LEC is a partnership initiated by the governments of the Philippines, the United States, and Japan. It has since expanded to include Australia, Denmark, France, Italy, the Republic of Korea, Sweden, Canada, and the United Kingdom. The Asian Development Bank is also supporting the initiative. More than 20 foreign companies have already expressed interest in the AI hub.
Pardo said that if implemented effectively, the LEC could turn inclusive and sustainable growth into a tangible reality rather than merely a national aspiration.
“That is precisely why we are calling on both public and private sectors to stay engaged and aligned. The Luzon Economic Corridor’s success is not the government’s job alone. It is ours as well,” said Pardo, who once served as secretary of the Department of Trade and Industry and Department of Finance.
