The United States government has announced an agreement with the Philippines to develop a high-tech industrial manufacturing hub across a stretch of the island of Luzon.
The artificial-intelligence-powered manufacturing hub is planned for a 4,000-acre site given to the United States rent-free by the Philippines, with diplomatic immunity and administered as a special economic zone. The arrangement is part of a plan to accelerate U.S. manufacturing in defense and other key industries.
The project deepens the economic and political ties with the Philippines, although currently the manufacturing hub is only at the concept stage and it is still to be determined which companies will be involved. The Philippines has sources of nickel, copper, chromite and cobalt that will be both used by American companies operating there and exported back to the U.S. for manufacturing, said Undersecretary of State for Economic Affairs Jacob Helberg.
IAM Member Impact: Although only at the planning stage, the industrial hub should represent long-term positive news for the international moving industry in the Philippines and for members with corporate accounts who may be involved in building and future operations.
Source: The Wall Street Journal