BIZ BUZZ: Peza chief gains private sector backing

As the Marcos administration moves to shake up leadership in government-owned corporations and investment promotion agencies, Philippine Economic Zone Authority (Peza) Director General Tereso Panga has gained backing from the private sector.

George Barcelon, chair of the Philippine Chamber of Commerce and Industry, the country’s largest business organization, told Biz Buzz: “I believe Panga has been working hard to keep the credibility of Peza with investors. I hope he’s retained.”

He underscored the importance of stable leadership amid ongoing challenges in the economic zone sector.

And it’s not just Barcelon singing Panga’s praises as business powerhouses like Philexport and the Employers Confederation of the Philippines have also thrown their support behind him.

Even grassroots groups like Peza Employees Association, Mactan Export Processing Zone Chamber of Exporters (MEPZCEM) and Manufacturers and Cavite Export Zone Investors Association (CEZIA) are willing to take up cudgels for the guy.

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MEPZCEM and CEZIA represent a combined total of 265 companies.

With big changes happening all around, Panga’s backing sends a clear message—he’s the guy investors and private businesses want at the helm.