US Plans Chips, Nickel Deals in Philippines as Defense Ties Grow [BNN Bloomberg (Canada)]
United Parcel Service, Inc. (UPS)
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Source: BNN Bloomberg
The initiatives, outlined in a White House fact sheet on Thursday, were announced as Philippine President Ferdinand Marcos Jr. visited Washington for his first trilateral meeting with President Joe Biden and Japanese Prime Minister Fumio Kishida. The Philippines is bolstering economic ties with the US as well as Japan at a time when Manila's relations with top trading partner China have been strained by competing territorial claims in the South China Sea. In a key collaboration, the US, Philippines and Japan committed to accelerate investments on the Luzon Economic Corridor, which will support connectivity between Subic Bay and Clark — two former US military bases turned commercial hubs — Manila, and Batangas province in the country's main island. Projects include rail and ports modernization, clean energy, semiconductor supply chains, agribusiness and civilian port upgrades at Subic Bay. And in a boost to Marcos's bid to grow the country's downstream mineral industry amid grow
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