Malacañang on Wednesday assured that transactions under the proposed Pax Silica initiative will protect Philippine interests and will not come at the expense of Filipinos’ welfare and rights.
Palace Press Officer Claire Castro said President Ferdinand R. Marcos Jr. has made clear that investments under the initiative must benefit the country while complying with Philippine laws.
“Nagsalita din po ang Pangulo. Hindi maaring gumawa ng anumang transaksyon na ang Pilipinas o mga Pilipino ang siyang madedehado,” Castro said.
She said the government welcomes investments but will not allow them to result in harm to Filipinos.
“Kailangan po natin na magkaroon ng mga investments pero hindi nangangahulugan na ang ating mga kapwa Pilipino ang magdurusa,” she added.
Castro made the statement when asked about safeguards for the Philippines under the US-led Pax Silica initiative following the United States’ imposition of hefty tariffs on Canada after the two countries failed to reach a trade deal.
She said the government would ensure that any transaction complies with Philippine laws and protects the rights of Filipinos.
“So, maliwanag po iyan. Hindi po natin pababayaan kung ano ang itinatalaga ng ating batas, hindi po natin iba-violate ang karapatan ng ating mga kapwa nating Pilipino,” Castro said.
Marcos earlier described the Pax Silica initiative as a “good deal,” saying it could create jobs and support economic growth.
He also expressed openness to working with the United States, European countries, China, Japan, South Korea, Canada and Australia, provided investments generate benefits for Filipinos through jobs, skills development, technology transfer and training.
Pax Silica is a proposed high-tech manufacturing and innovation hub under the Luzon Economic Corridor that seeks to strengthen the Philippines’ role in global supply chains for semiconductors, artificial intelligence and critical minerals.
The proposed development in New Clark City is expected to generate up to 190,000 high-quality jobs for Filipinos.
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