Philippine Economic Zone Authority (PEZA) Director General Tereso Panga has expressed optimism about hitting the agency’s PHP300-billion investments approval target for 2025.
After the Board’s meeting last Dec. 12, PEZA-approved investments for the year amounted to PHP238 billion, he told journalists during the agency’s 30th anniversary celebration in Pasay City Monday night.
“We’re still getting some applications. They all want to be approved by December 22 (next Board meeting), so we’ll know,” he said.
Panga said at least four of these applications are big-ticket items, including an “ultra luxury” brand from Japan and the U.S., and will be placed in the manufacturing sector, among others.
Since the investment applications are big-ticket items, Panga said that if the agency will not achieve its approvals target for 2025, it will hit it next year “for sure.”
Panga attributed this optimism to their continuous promotions activities abroad, with a U.S. trip already scheduled next month.
“This will bring us back to (the) heydays of PEZA. We’re hoping and praying (that) it’s going to be an upward consistent trajectory,” he said.
“These investors are investing in the future more than the present. That means they have their trust and confidence, huge trust and confidence, in current leadership,” he said, adding that reforms will also be implemented to further improve their policies. (PNA)
