By Beatriz Marie D. Cruz, Senior Reporter
THE PHILIPPINE ECONOMIC Zone Authority (PEZA) expects investment approvals to hit a record high of as much as P320 billion this year after exceeding its full-year target ahead of schedule.
PEZA Director-General Tereso O. Panga said he expects investment approvals to reach P315 billion to P320 billion by end-2026.
“With two more board meetings to go, the next target that we’d like to breach is the highest by far approved by PEZA in its history, which is P312 billion approved in 2012,” he told reporters on the sidelines of the 40th Confederation of Asia-Pacific Chambers of Commerce and Industry Conference on Wednesday.
“If we’re able to breach the P312-billion [record, that is] good enough,” he added.
As of October, the PEZA Board had approved P309.63 billion worth of investments, breaching its P300-billion goal for 2026. This covers 240 new and expansion projects, which are estimated to generate exports worth $9.12 billion.
“These figures affirm the Philippines’ role not merely as an investment destination, but as a strategic partner in building competitive and resilient regional value chains,” Mr. Panga said.
He said the agency expects to set a higher investment approval target in 2027.
“With investments growing, and also with our actual exports also growing, we see this trend to likely continue in 2027,” he said.
PEZA is set to hold investment promotion activities in Taiwan and Singapore this November, he added.
The agency manages 441 economic zones (ecozones) nationwide, home to over 4,400 registered businesses. These firms account for 13% of the country’s gross domestic product, according to its estimates.
PEZA-registered ecozones are predominantly export-oriented, with the manufacturing sector accounting for 32% of investments catered in electronics, semiconductors, and other advanced manufacturing activities.
Mr. Panga said he is in talks with a Malaysian big-ticket investor that is looking to set up shop in an economic zone in Palawan.
“This is a new investor [focused on] anodizing manufacturing and tourism,” he said.
Firms operating in a PEZA-registered ecozone are entitled to fiscal and nonfiscal incentives such as tax exemptions, streamlined processes, and work visas.
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said PEZA-registered ecozones can host locators that are capitalizing on the artificial intelligence boom and global demand for electric vehicles.
“If the National Government’s catch-up spending pushes through, this will help improve the sentiment of international investors, alongside reform measures to promote accountability and transparency in state spending,” he added.
Meanwhile, Mr. Panga said several areas in Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon), the Ilocos Region, and Pampanga are awaiting proclamation as economic zones.
“There’s some more (ecozones) in the pipeline. We’re waiting for the proclamation of some manufacturing ecozones,” he said.
A parcel of land may only be declared as an ecozone through a presidential proclamation issued upon the PEZA Board’s endorsement.
For this year, President Ferdinand R. Marcos, Jr. has approved around 17 to 18 ecozones so far, Mr. Panga noted.
Several information technology (IT) parks in the cities of Makati and Manila are also waiting to be declared as ecozones.
In July, Mr. Marcos lifted the seven-year moratorium for new IT parks and centers in the Philippine capital.
The agency is eyeing 25 to 30 ecozone proclamations nationwide this year, Mr. Panga said.
“Maybe [it will be] a little lower than that. If we’re able to reach 20 ecozone proclamations, that’s enough,” he said.