ECOZONE investments could be affected as companies assess the likely outcome of the war in the Middle East, a senior official said on Monday.
"The ongoing conflicts in the Middle East and other regions have resulted in rising global oil prices, which may pose risks to logistics and supply chain costs, especially for export-oriented industries that are highly dependent on fuel and transportation,” PEZA Director General Tereso Panga said at a forum.
"At this point, potential and existing investors are closely monitoring how the situation will unfold in the long term,” he added.
“However, within PEZA ecozones, conditions remain stable and operations are normal.”
To address possible logistics issues and address rising costs, Panga proposed the use of off-dock container yards and barge terminals and also urged the government to further streamline processing for imported goods, such as through the Bureau of Customs’ nonstop services.
He expressed confidence in the country’s ability to attract investors and added that "our priority is to sustain investor confidence by ensuring that our policies remain responsive, adaptive, and aligned with global market conditions.”
PEZA remains committed to enhancing ease of doing business, Panga added, saying that “through continuous process improvements, expansion of our ecozone network, and strong collaboration with stakeholders, we aim to attract high-value investments that generate quality jobs and drive inclusive growth.”
The investment promotion agency, which approved a record P260.89 billion in pledges last year, is aiming to grow this to P300 billion in 2026.
"We remain bullish about our performance and targets", Panga said.
