Peza raises 2027 goal; new record within reach
The Philippine Economic Zone Authority (Peza) is looking to set a much higher investment target for 2027, as it moves closer to surpassing its all-time record for annual investment approvals set more than a decade ago.
Already, the investment promotion agency has recorded P309.63 billion in approved investments as of end-October, exceeding its P300-billion target for 2026 and putting it within striking distance of the P311.9-billion record set in 2012.
Peza Director General Tereso Panga said the agency could end the year with between P315 billion and P320 billion in approved investments.
That projection is supported by big-ticket projects in the agency’s pipeline, although some may be carried over to 2027.
Panga said this year’s performance could pave the way for a “lot bigger” investment target in 2027.
“With investments growing, and with our actual exports also growing, we see this trend to continue up until 2027,” he told reporters on the sidelines of a conference organized by the Confederation of Asia-Pacific Chambers of Commerce and Industry.
Among the projects that could bolster Peza’s approvals is a prospective investment worth at least $1 billion.
Panga said two of the four big-ticket projects previously identified by the agency had already entered its investment pipeline.
A separate billion-dollar technology investment from Taiwan had been prequalified by the Peza board and would be endorsed to the Fiscal Incentives Review Board for further evaluation.
New ecozones
The Taiwanese investor is seeking to finalize the project within the year, with commercial operations targeted to begin in 2027.
Peza is also courting other prospective investors, including a Malaysian company interested in developing manufacturing and tourism projects within a 200-hectare site in the Palawan Mega Ecozone.
Meanwhile, Panga said Peza is likely to fall short of its target to secure presidential proclamations for 25 to 30 new ecozones this year, although more projects are awaiting approval.
He nevertheless expressed optimism that the agency could reach 20 proclamations by year-end.
“If we’re able to reach 20 proclamations, it’s good enough,” Panga said.
Among those in the pipeline are privately developed manufacturing ecozones in Calabarzon (Cavite, Laguna, Batangas, Rizal Quezon), Ilocos and Pampanga.
Peza is also expecting more information technology parks in Metro Manila following the lifting of the moratorium on new ecozone developments in the capital region.
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