PEZA bullish on record-high P320 billion investment approvals

MANILA, Philippines — After beating its 2026 target, the Philippine Economic Zone Authority (PEZA) is now looking to close the year with all-time high investment approvals of up to P320 billion.

As investment approvals from January to October have exceeded the P300-billion target for the year, PEZA director general Tereso Panga told reporters on the sidelines of the Confederation of Asia-Pacific Chambers of Commerce and Industry Conference yesterday that the agency is aiming to surpass the record-high approvals of P312 billion achieved in 2012.

As of end-October, PEZA has approved P309.63 billion worth of investments, 77 percent higher year-on-year.

With two more board meetings to discuss and approve investments, Panga said the P312 billion investment approvals level is within reach.

He said that PEZA-approved investments are likely to reach a total of P315 billion to P320 billion this year given projects in the pipeline.

After the recent approval of two big-ticket projects, he said another one is expected to be registered within the year.

Investments approved by PEZA are pledges made by foreign or local firms for projects in economic zones. These investments enjoy incentives including income tax holidays.

For next year, Panga said that PEZA wants to achieve an even higher level of investment approvals as it expects to sustain the investment growth momentum.

“We see this trend to continue until 2027 where we hope that we will recover with our GDP (gross domestic product) growth,” he said.

The economy is expected to return to a higher growth path next year with the government aiming for five to six percent GDP growth, faster than the 3.5 to 4.5 percent growth goal for this year.

When it comes to economic zone proclamations, Panga said that PEZA expects to end the year with 20 new ecozones.

Panga said around 17 to 18 ecozones have been proclaimed  this year.

“There’s some more in the pipeline,” he said, citing manufacturing ecozones to be developed in Calabarzon (Cavite-Laguna-Batangas-Rizal-Quezon), Ilocos and Pampanga.

Panga also said PEZA expects applications from information technology parks in Metro Manila following the recent lifting of the moratorium.

Earlier, he said that PEZA’s goal is to have up to around 30 new ecozones this year.

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