PEZA cites logistics advancements 

Pasay City – The Philippine Economic Zone Authority (PEZA) is actively encouraging American companies to consider investment opportunities in the Philippines. This push comes as the Marcos Jr. administration ramps up efforts to enhance the nation's logistics and infrastructure.

At the Future of Logistics 2024 forum held on May 29 in Makati City, PEZA Director General Tereso O. Panga highlighted ongoing logistics and infrastructure projects and detailed PEZA's plans to support these initiatives. The forum, organized by the American Chamber of Commerce of the Philippines, Inc. (AmCham), along with Santos Knight Frank and Aboitiz InfraCapital, aimed to present the Philippines as a prime investment destination.

DG Panga emphasized several key developments that could attract American investments, including the China 1 strategy, the US CHIPS Act, and the US-Japan-Philippines trilateral agreement. He also noted the potential of the Luzon economic corridor, which aims to enhance connectivity between Subic Bay, Clark, Manila, and Batangas, thereby facilitating strategic investments in high-impact infrastructure projects.

"The Luzon economic corridor will significantly boost connectivity among key economic hubs, supporting strategic investments and fostering economic growth," said Panga.

PEZA is eyeing approximately $100 billion in potential investment deals from the US and Japan, targeting sectors such as electronics, clean energy, agri-business, and infrastructure development. Panga highlighted the Philippines' consistent high GDP growth, which positions it as one of the best-performing economies in the ASEAN region.

"When we have robust GDP growth, we attract more investments," he stated, noting that PEZA achieved a six-year high in ecozone investments in 2023, reaching PHP 175.7 billion.

PEZA's inclusion of Ecozone Logistics Service Enterprises (ELSE) in the new Strategic Investment Priorities Plan allows more logistics companies to support new investments within ecozones. Panga emphasized the benefits this brings to supply chain and logistics companies, suggesting that flourishing ecozones signal a more vibrant economy.

Villamor Villasenor, Global Chairman of the Procurement & Supply Institute of Asia (PASIA), echoed Panga's optimism, noting significant opportunities in the Philippines over the next 18-24 months.

However, challenges remain. During the forum, representatives from both public and private sectors discussed the need for improvements in the country's business environment. Wilda Calderon, Chairperson of the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. – Association of Logistics Managers (SEIPI-ALM), stressed the importance of simplifying government processes to ease doing business.

Engr. Rynor Jamandre, President and CEO of Quantity Solutions, highlighted the need to address fragmented government policies to overcome business challenges. In response, PEZA is implementing strategies such as automating systems, creating logistics parks, and strengthening partnerships with other government agencies to streamline operations and attract more industrial investments.

PEZA's commitment to improving the investment climate was praised, with calls for its model of service to be replicated across other government agencies. Engr. Jamandre noted, "A bigger PEZA means a better Philippines. PEZA should be the role model for every agency."

DG Panga emphasized the importance of a collaborative approach, stating, "We cannot do this alone. With all of us working together, we can make the Philippines an attractive investment destination in the region."

By fostering a supportive environment for investors, PEZA aims to drive economic growth and create more job opportunities for Filipinos.