The Board of Investments (BOI) said that Bulacan's goal to become an "investment powerhouse" in the country will be realized via the Luzon Economic Corridor.
The Luzon Economic Corridor was developed as a result of the Philippines-Japan-United States Trilateral Cooperation in April 2024 under the Group of 7 Partnership for Global Infrastructure and Investments.
Under the agreement, Japan and the United States will help the Philippines fund new infrastructure to transform this Luzon into a center for trade, commerce, and logistics.
The Luzon Economic Corridor involves the construction of a new railway that will connect Subic, Clark, Metro Manila and Batangas.
The railway will pass through western Bulacan, the same route of the North-South Commuter Railway under construction.
Due to the big-ticket infrastructure projects in the province, Bulacan's "ambition" to become an "investment powerhouse" will come into fruition, the agency said.
"Bulacan's preparations are well-timed because the necessary facilities that will help build the Luzon Economic Corridor have been put in place one by one," BOI Green Lane Division Chief Lubin De Vera, Jr. said
Initial investment commitments for various projects under the Luzon Economic Corridor initiative reached US$100 billion, he added.
Among the investments are renewable energy project like Terra Solar, a Philippine-British collaboration, in the northern part of Bulacan and southern Nueva Ecija.
The project is expected to ensure the supply of electricity to the new economic zones in Bulacan that will be connected to the said infrastructure projects.
Another project is the First Bulacan Business Park in Malolos and the Bulacan Special Economic Zone and Freeport around the New Manila International Airport.
De Vera said these will attract more investments.
The BOI official added that Republic Act No. 11647 or the amended Foreign Investments Act will apply in these economic zones, allowing investors to own 100 percent of a business.
The retail industry within these economic zones is expected to grow.
Initial investment of P25 million can now be made from the previous P100 million, in accordance with the amended Republic Act 11595 or the Retail Trade Liberalization Act.
De Vera said the BOI will continue to provide output-based and time-bound incentives for new investments under Republic Act 12066 or Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy.