THE Philippine Economic Zone Authority (PEZA) remains upbeat despite a 57.36-percent slump in investments of P12.86 billion in January.
“January is down because usually it’s [in] the fourth quarter of the year that companies peak with operations and exports,” PEZA Director General Tereso Panga told reporters on Jan. 29 at the British Chamber of Commerce Philippines’ event, Forecasting 2026: UK-PH Economic Perspectives.
The agency is targeting P300 billion in new projects this year.
At its first board meeting for the year on Jan. 23, PEZA built 18 new projects consisting of 13 locator enterprises and five ecozone developers.
“We’re hopeful we can get more projects in the coming months,” Panga said, noting that PEZA, along with officials of Ayala Corp., will go on an investment mission to Taiwan on Feb. 4 to 6.
“Ayala operates Laguna Technopark and is also into information technology,” Panga pointed out, adding that other countries on PEZA’s business mission list are China, Japan and Germany. No dates have been given for these visits, though.
The agency’s mission to the United States on Jan. 5 to 9 successfully clinched $200 million in new projects in manufacturing, aerospace, pharmaceuticals and information technology-business process management.
Some 28 new ecozones will be opened this year, Panga said. “We’re hoping the process will be faster. That’s something we need to work on with Executive Secretary [Ralph] Recto.”
On Jan. 18, President Ferdinand Marcos Jr. issued two proclamations designating new ecozones in Tanauan City, Batangas, and Iloilo to boost regional development.
Proclamation 1127 mandated four parcels of land in Barangay Pagaspas and Trapiche in Tanauan City to be part of the First Industrial Township-Special Economic Zone, pursuant to Republic Act (RA) 7916, or the Special Economic Zone Act of 1995, as amended by RA 8748.
The expanded ecozone covers a total land area of 55,859 square meters (sqm) near the Calabarzon Road and the San Juan River.
Proclamation 1128 designated parcels of land along Donato Pison Avenue in Barangay San Rafael, Mandurriao District, Iloilo City, as a new IT park named Atria Gardens, which spans 48,569 sqm.
The Special Economic Zone Act of 1995 provides the legal framework for establishing, operating and managing special ecozones in the country to foster industrial, commercial and financial growth.
It created PEZA to manage these ecozones, offering tax incentives, streamlined regulations and infrastructure support to foreign and local investments.
Fire safety certificates
PEZA wants to reinstate its authority to issue fire safety inspection certificates (FSICs), Panga said. “Actually, before this law of the Bureau of Fire Protection (BFP) took effect, we used to issue FSICs.” Panga said.
Since 2018, the BFP has been issuing FSICs to establishments operating in ecozones to ensure compliance with RA 9514, or the Fire Code of the Philippines, a law governing fire prevention, protection and suppression for all public and private buildings and structures.
Also, there are plans to add one or two deputy director generals to help PEZA in its missions, Panga said.
He likewise wants PEZA to have the power to issue a certificate of origin, which attests that goods are manufactured or processed in the country. This enables PEZA-registered exporters to avail of preferential tariff rates under various international trade agreements.
“Right now, it’s lodged in the Bureau of Customs,” Panga said. “It’s high time that we revisit the provisions and align them with global standards, and modernize the way we do business so that we can accelerate more entry of investments.”