Latest news with #JoseManuel''Babe''Romualdez
GMA Network
21-07-2025
- Business
- GMA Network
Envoy says PH open to having ammunition manufacturing site in Subic
The Philippines is open to the production of ammunition in the country as it will enhance the defense ties between Manila and Washington, according to an envoy. Speaking to the Philippine media delegation, Philippine Ambassador to the United States Jose Manuel ''Babe'' Romualdez has said an ammunition production facility would also generate employment in the country. ''Obviously, we're open to that one, because it's a good way of being able to help a combination of both defense and economic cooperation between the Philippines and the United States,'' Romualdez said. ''So, setting up a production facility in the Philippines, would obviously be beneficial for us economically also because it will create a job, and it will obviously be a good hub for them to be able to produce what it requires for our defense,'' he added. Romualdez said a number of companies in the Philippines are interested in joining the potential consortium for the said ammunition production facility. Earlier, it was reported that US lawmakers were exploring the possibility of establishing a joint ammunition manufacturing facility in Subic Bay. In its report dated June 16, the US House Committee on Appropriations directed the US Department of Defense to assess the feasibility of establishing a joint ammunition manufacturing and storage facility in the said area. The facility will enable the forward staging of ammunition stockpiles and related materials such as nitrocellulose, nitroglycerin, and acid. —VAL, GMA Integrated News
GMA Network
21-07-2025
- Business
- GMA Network
Firms lining up for Luzon Economic Project, envoy says
A lot of companies have lined up to participate in the Luzon Economic Corridor (LEC), Philippine Ambassador to the US Jose Manuel ''Babe'' Romualdez has said. ''There are already a lot of companies that are lining up into working on projects and also locally, it will boost the economy in those areas,'' Romualdez told the Philippine media delegation in Washington D.C. The envoy, however, did not specify the companies that expressed intent to participate in the project. He said President Ferdinand ''Bongbong'' Marcos Jr. would meet with the potential investors as part of his official visit to the US. The LEC is a partnership with the United States and Japan, which was announced during the Trilateral Leaders' Summit in the United States in April of last year. This program seeks to connect Subic Bay, Clark, Manila, and Batangas with high-impact infrastructure projects including ports and railways. Finance Secretary Ralph Recto earlier said this project is envisioned to become a prime location for export-manufacturing firms, positioning the Philippines as Asia's top destination for cutting-edge production and innovation. —VAL, GMA Integrated News
