Ecozone investments shatter 14-yr record
Investments pouring into the country’s economic zones reached a record P315.5 billion in 2026, eclipsing the P311.9-billion high set more than a decade ago in 2012.
The record tally was as of Nov. 10, with more projects expected to be approved before yearend.
It was announced by the Philippine Economic Zone Authority (Peza) on Friday, as it bade farewell to Tereso Panga, who had served the agency for 28 years, including the last three as its director general.
Panga was replaced by Joshua Bingcang, president and CEO of the Bases Conversion and Development Authority (BCDA), in a government reshuffle that installed four new chiefs at revenue-collecting agencies and investment promotion bodies.
List of firsts
Under Panga, Peza achieved several firsts, including the establishment of the country’s first Mold Industry Technology Center in Cavite, which has trained more than 8,000 workers in computer numerical control design and machining.
He also spearheaded the digitization of Peza processes through the Peza The One Portal System.
During his tenure, Peza said it supported more than 1.8 million direct jobs nationwide and contributed P4.19 billion in dividends to the National Treasury over three consecutive years.
In a social media post, Panga expressed gratitude to Peza, its ecozone locators and partners.
“As I conclude my tenure as Director General, I do so with a grateful heart and a deep sense of fulfillment,” he wrote. “I have always believed that public service is not defined by the positions we hold, but by the difference we make in the lives of those we serve.”
Panga also assured the public of a smooth transition with Bingcang.
“I also extend my warmest congratulations and best wishes to my successor. I wish him every success and offer my wholehearted support for a smooth transition and Peza’s continued progress,” he added.
At Peza, Bingcang will oversee a much larger portfolio of investment sites, as the agency—the country’s second-largest investment promotion body—handles more than 400 economic zones.
BCDA estates
By comparison, the BCDA manages six estates: New Clark City, Clark Freeport and Special Economic Zone, John Hay Special Economic Zone, Poro Point Freeport Zone, Morong Discovery Park, the Fort Bonifacio and Villamor Airbase.
At a news conference on Thursday, Finance Secretary Frederick Go welcomed Bingcang’s appointment to Peza and expressed confidence in the former BCDA chief’s ability to lead the agency.
Go, who also serves as the country’s investment czar, dismissed concerns that the reshuffle would derail the investment promotion momentum of either agency.
