The Philippines could lose out on major investments tied to Pax Silica unless it moves faster to address political resistance, regulatory hurdles, infrastructure gaps, and workforce needs, the Makati Business Club (MBC) warned.
MBC Chairman Edgar Chua said the economic security initiative could still fail to materialize despite its potential to attract investments and build new industries in the country.
“Pwede. Pwede hindi matuloy ’yan. Pwede another missed opportunity,” Chua said, stressing the need for the government to put the right policy and infrastructure framework in place.
Chua also pushed back against perceptions that Pax Silica is primarily a US undertaking. While US-led, the initiative already involves at least two dozen countries and continues to expand, he said.
MBC has been engaging the American Chamber of Commerce, the US Embassy, and other international groups on investment opportunities that could emerge from Pax Silica.
Chua said MBC even advised the US Embassy to tone down the initiative’s American branding to avoid presenting it as a US-versus-China project that could put the Philippines in an awkward position between the two powers.
“It’s US-led, but it’s not the US alone,” Chua said, arguing that the Philippines should approach the initiative based on its own economic interests.
“This should be based on our own interest,” he said.
Beyond messaging, Chua said the government must prepare the infrastructure, legislation, and workforce needed to support industries that could locate in the country under the initiative.
He said political considerations pose a bigger challenge than technical requirements such as power and water. Those constraints, he said, can be addressed through dedicated energy facilities and available cooling technologies.
For the Philippines, the opportunity could extend beyond attracting individual investments to positioning the country within emerging supply chains tied to strategic technologies and industries.
But Chua warned that the window could close if the government fails to resolve policy and political concerns quickly enough.
The Philippines must therefore make clear what it wants from Pax Silica and put the conditions in place to capture investments, jobs, and supply-chain opportunities, rather than simply wait for projects to come.
