With the Philippine Economic Zone Authority (PEZA) surpassing its PHP300 billion investment approval target for 2026 as of October, its chief on Wednesday vowed to make these investments have a lasting impact on the economy.

PEZA Director General Tereso Panga, in his speech during the 60th anniversary of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) and the 40th CACCI Conference at a hotel in Parañaque City, said the agency approved PHP309.63 billion worth of investments as of last October.

This performance, he said, underscores the agency’s potential as it currently oversees 441 operating economic zones and more than 4,400 registered businesses around the country.

“These figures affirm the Philippines’ role not merely as an investment destination, but as a strategic partner in building competitive and resilient regional value chains. However, our goal is not merely to attract more investments. Our priority is to translate these investments into lasting economic value through expanded production, increased exports, technology transfer, and quality employment,” he said.

Panga said the agency aims to “become a platform that uplifts the lives of our people and their communities.”

This will be achieved through the implementation of the Corporate and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, as well as the agency’s one-stop and non-stop shop services.

These two, he said, provide for an environment that extends incentives and offers streamlined services, digitalization, and closer tie-ups among government agencies and industry players.

Panga underscored the need to help businesses in their digital transformation shift to ensure they remain competitive.

“Artificial intelligence, automation, and advanced manufacturing are reshaping business operations and creating new opportunities across the region. Building on the Philippines’ strengths in electronics, semiconductors, and IT-BPM (information technology – business process management), we aim to help industries move toward higher-value activities while preparing Filipino workers for emerging technologies,” he added. (PNA)