Philippine Standard Time - Sunday, June 16, 2024,

PEZA, PHILEA confident of PH competitiveness in developing more economic zones

Monday, November 14, 2022

Pasay City – The Philippine Economic Zone Authority (PEZA) hosted a consultative meeting with the Philippine Ecozones Associations (PHILEA), at the PEZA Head Office last 09 November, on the plans, updates, and key concerns on economic zone development.

In continued pursuits to execute the Agency’s mandate of attracting investments and implementing the ecozone program nationwide, PEZA Director General Tereso O. Panga stated, “PEZA would not have been a success story without the support from PHILEA.”

"We are more than encouraged by the pronouncement of President Bong Bong Marcos for his full support to economic zones that shall bring in strategic industries and countryside development,” the PEZA OIC Chief added.

     

PEZA OIC Director General Tereso O. Panga conducts a briefing to PHILEA members at the PEZA-PHILEA Consultative Meeting.

 

PHILEA President Mr. Francisco Zaldarriaga said, “Ecozones are developing communities as well. Part of the ecozones’ core is also community-building.”

List of pending economic zones

As of October 2022, OIC Head Panga said, “PEZA currently has 13 pending economic zones that we look forward to be proclaimed by the current administration. One (1) is already endorsed to the Office of President Marcos, while 12 are endorsed to the Department of Trade and Industry (DTI).”

“These 13 pending ecozones are expected to bring in investments amounting to PhP 17.924 billion,” added Panga.

For the breakdown, there are seven (7) pending manufacturing ecozones, four (4) for IT Parks and Centers, one (1) for the Knowledge, Innovation, Science, and Technology (KIST) Park, and one (1) Agro-industrial ecozone which are all located outside Metro Manila.”

OIC Head Panga is confident that in 2022, “there will be an upturn as we have been getting big-ticket projects enough to recover and even surpass our 2019 [investment] levels.”

On the other hand, PHILEA President Zaldarriaga shared that from 1995 to March 2022, “Total investments from PHILEA ecozones is approximately PhP 1.13 trillion, generated USD$ 411 billion in exports, and employed 378,395 workers.”

 

PHILEA President Mr. Francisco Zaldarriaga of the Carmelray Industrial Park delivers his message on PHILEA updates and support to PEZA.

 

More incoming projects

According to Panga, “Just last month, the LISP closed a project with a data center with PhP 3.4 billion of investments. Another big-ticket investment is currently in talks with Suntrust.”

Meanwhile, at the recent investment forum in Taiwan and South Korea, the OIC Chief stated, “PEZA big-ticket projects from Taiwan and South Korea are ready to apply and register with us.”

With aggressive investment promotions, OIC Panga is confident that “The 6 to 7% target for 2022 is attainable and we must also continuously work with other agencies to promote the creation of more ecozones, particularly in the countryside and new growth areas.”

PHILEA President Zaldarriaga said, “PHILEA and PEZA are partners in nation-building.”

Group photo with PEZA OIC Head Tereso O. Panga and PHILEA delegates.