Foreign money is lining up behind Luzon’s tech hubs. Can this push the Philippines up the value chain?
Investment momentum behind the Luzon Economic Corridor must overcome domestic hurdles, say experts
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[SINGAPORE] International investment momentum is gathering around Luzon, the Philippines’ largest island, as the country taps a US-backed infrastructure “corridor” to create new hubs for advanced manufacturing amid a global artificial intelligence buildout.
But doubts exist over whether new investments can overcome long-standing political and structural constraints that have held the country back from its industrial potential.
Dr Michael Batu, associate professor of economics at the University of the Fraser Valley in Canada, said he was “cautiously optimistic” about the Luzon Economic Corridor (LEC) but stressed that the Philippines has historically been stronger at producing plans than implementing them.
