PHL seen to draw more investments, jobs under US-led Pax Silica, DICT says

The Philippines is seen to attract more investments under the US-led Pax Silica framework, particularly in the Luzon Economic Corridor (LEC), which is expected to generate more jobs, according to the Department of Information and Communications Technology (DICT), which also noted efforts to secure industry connectivity.

“We’ll get a lot of investment in the area of telecoms and in the area of hyperscalers, mostly focused on the LEC,” DICT secretary Henry Rhoel R. Aguda said in an interview during the BusinessWorld Economic Forum on Monday.

“So that will create more jobs,” he added.

Up to one million jobs are expected to be generated under the LEC and could help drive double-digit economic growth for the country, under expanding PH–US economic cooperation, Malacañang said in a statement.

When asked about the DICT’s role in the planned 4,000-acre artificial intelligence (AI) industrial hub in the LEC, Mr. Aguda said the DICT will focus on ensuring reliable internet connectivity to support the industry in the hub.

“One, we need to secure all the international fiber cables going there,” Mr. Aguda said.

From a policy standpoint, the agency continues to advance key governance measures, including data localization, data sovereignty, and data embassy policies, alongside efforts to strengthen local skills development in support of the hub’s implementation.

In other developments, US undersecretary of state for economic affairs Jacob Helberg said on Thursday that a deal on a long-term framework for an economic security zone with the Philippines is expected “sooner rather than later,” according to a Reuters report.

He added that both countries have a two-year window to finalize arrangements under the agreement signed last month.

The two sides will also set sectoral industrial priorities for economic activities within the zone.

“I expect the United States and the Philippines to reach a deal sooner rather than later,” Mr. Helberg said.

“There’s an enormous amount of momentum behind this,” he added.

The Philippines is the 13th country to join the US-led Pax Silica initiative last month, which aims to connect allied countries to strengthen supply chains for semiconductors, artificial intelligence, critical minerals, and advanced manufacturing. — Edg Adrian A. Eva