THE Philippine Economic Zone Authority (PEZA) said it remains positive about hitting its investment approval targets this year, noting that operations in its economic zones (ecozones) remain “normal” in the face of the fallout from the Persian Gulf crisis.
“While we remain bullish about our performance and targets, we acknowledge the presence of global and local headwinds that may impact investment flows and business confidence,” PEZA Director General Tereso O. Panga said at a forum on Monday.
He noted that high oil prices may elevate supply chain costs within its ecozones.
“Ongoing conflicts in the Middle East and other regions have resulted in rising global oil prices, which may pose risks to logistics and supply chains — especially for export-oriented industries that are highly dependent on fuel and transportation,” he noted.
Mr. Panga said that conditions within PEZA’s ecozones remain stable.
“Potential and existing investors are closely monitoring how the situation will unfold in the long term. However, within PEZA ecozones, conditions remain stable and operations are normal,” he said.
Mr. Panga said PEZA is following global developments and stands ready to recalibrate its targets and strategies as needed.
“While challenges such as potential logistics disruptions may arise if global tensions persist, PEZA remains confident in the Philippines’ long-term competitiveness,” he added.
For 2026, PEZA is hoping to approve P300 billion worth of investment proposals. As of February, the agency approved P35.37 billion worth of investments.
“Our value proposition to investors is, other than those looking at exporting basically to the US and Europe, we can be their hub in the region as a gateway to Asia-Pacific,” Mr. Panga said.
He also reiterated the need to amend Republic Act No. 7916 or The Special Economic Zones Act of 1995, or the PEZA Law, Mr. Panga said.
“We want to strengthen PEZA and enforce our powers to issue permits and our regulations inside PEZA ecozones, similar to powers granted to other IPAs (investment promotion agencies),” Mr. Panga said. — Beatriz Marie D. Cruz
