Sweden is increasing its infrastructure cooperation and investments in the Philippines through the Luzon Economic Corridor initiative. Photo: Helene Sadjadi-MunkSweden is stepping deeper into the Philippines with new investments, grants and infrastructure cooperation tied to the Luzon Economic Corridor (LEC).
The Nordic country this week joined the expanded LEC partnership together with Australia, Denmark, France, Italy, South Korea and the United Kingdom, Inquirer reports.
The corridor initiative was launched in 2024 by the Philippines, the United States and Japan to improve transport, logistics, energy and digital infrastructure across the Subic-Clark-Manila-Batangas growth area.
Speaking during an LEC reception in Makati, Sweden’s Embassy in Manila said Stockholm sees its participation as only the beginning.
“We do see this as a first step,” said Giselle Sia-Yap, senior trade promotion officer at the Embassy of Sweden in Manila.
“We will, together with our partners and of course the Philippine government, explore more venues for further investments and also further grants.”
Sweden has initially committed a 74-million-peso grant through state-owned development financier Swedfund. The funding will support feasibility studies for signaling systems and operations linked to a planned freight railway connecting Subic, Clark, Manila and Batangas.
According to the embassy, Sweden is also looking at future cooperation in energy efficiency, public transportation, grid development, connectivity and responsible mining technologies.
Around 40 to 50 Swedish companies are already operating in the Philippines, and Swedish officials said many remain eager to expand further in the country.
Sweden also expects the proposed free trade agreement between the Philippines and the European Union to strengthen trade and investment opportunities even more.