PEZA eyes P300B investment approvals by 2026

The Philippine Economic Zone Authority (PEZA) aims to surpass P300 billion in investment approvals by 2026, returning to its peak performance levels seen between 2011 and 2015.

PEZA Director General Tereso Panga expressed confidence in achieving this target, stating that if not by the end of this year, it will be met by 2026.

For the current year, PEZA had set a goal of approving P250 billion in investments, with an ambitious target of P300 billion.

As of December 12, PEZA has already approved P238 billion in investments, indicating it is close to meeting its conservative target.

Final figures for investment approvals will be confirmed after PEZA's last board meeting on December 22, where at least four new projects are expected to be approved.

These upcoming projects are primarily in the manufacturing sector and include an ultra-luxury tourism brand.

Director-General Panga is also anticipating a big-ticket investment worth over P1 billion from a US company and plans to meet with another potential US investor in January.

Under the administration of President Ferdinand R. Marcos, Jr., PEZA has approved 124 big-ticket projects worth P581 billion, expected to generate $7 billion in exports and create 60,923 jobs, including the $1-billion investment of Samsung Electro-Mechanics.