PEZA sees record investment approvals this year

The Philippine Economic Zone Authority (PEZA) anticipates a record year for investment approvals in 2026. With four significant projects in development, PEZA director general Tereso Panga stated that they anticipate surpassing the highest level of investment approvals recorded in 2012, when P311 billion was approved. From January to September of this year, PEZA approved P297.14 billion in investments, nearly matching the P300 billion goal for 2026.

Three large-scale projects are in the pipeline for New Clark City in Tarlac – one in the semiconductor industry, another in aviation, and a hyperscaler sector project. These projects will each receive a minimum investment of P50 billion and are expected to be submitted for approval within the year. A Japanese electronics firm is also planning a $1 billion investment in two manufacturing facilities in Laguna.

PEZA is scheduled to hold a board meeting in the coming week, where it expects to approve around P10 billion in investments. Furthermore, investment roadshows will be held in Japan, Singapore, and Taiwan this quarter, where PEZA anticipates sealing additional deals. The lifting of the moratorium on new IT parks and centers in Metro Manila is also expected to contribute to higher investment approvals.

While PEZA has not yet set a target for next year, Panga expressed confidence that the country will outperform this year's performance. With the Philippines projected to return to a higher economic growth path and rank among the region's top performers, PEZA aims to attract more investments, particularly from electric-vehicle and electronics firms. Geopolitical shifts are also driving interest from firms looking to transfer operations from Vietnam, Thailand, and Malaysia.

To attract more investment, the American Chamber of Commerce of the Philippines' executive director, Ebb Hinchliffe, emphasized the need for the Philippines to maintain faster growth, speed up reforms, and implement them swiftly. Hinchliffe noted that while reforms have been put in place, their implementation is not sufficient. The country must be "fast enough to compete, fast enough to innovate, and fast enough to deliver results and not just rhetoric."