PEZA Explores Cebu’s Vibrant Investment Landscape

The Philippine Economic Zone Authority (PEZA), led by Director General Tereso O. Panga, conducted a three-day visit to the Mactan Economic Zone (MEZ) from May 2 to May 4, 2024. This visit aimed to identify challenges, assess economic opportunities, and enhance the investment climate on Mactan Island.

PEZA officials met with the MEZ Management Committee (MANCOM) to discuss plans and programs for the zone. DG Panga addressed various operational concerns, demonstrating PEZA’s commitment to providing competitive services for investor-stakeholder partners. The MANCOM members appreciated the immediate and effective resolutions provided by the PEZA team.

DG Panga and MEZ Zone Administrator Emmanuel Cortero also held a consultative meeting with the new Board of Directors and officers of the MEPZCEM Chamber Inc. The discussions focused on improving the investment climate on Mactan Island. MEPZCEM officers presented business challenges, to which DG Panga responded with updates on PEZA’s initiatives aimed at easing business processes and reducing costs in the economic zones.

During the visit, DG Panga attended the inauguration of AM SWISS Microtec Inc.’s expansion project in MEZ. He highlighted the company’s significant economic contributions, including $8.94 billion in exports and the creation of 309 direct jobs since 2017. Panga attributed this success to President Ferdinand Marcos Jr.’s efforts to promote the country to global investors.

DG Panga thanked the local government of Lapu-Lapu City, led by Mayor Junard “Ahong” Chan, for their unwavering support of PEZA and the ecozone development program. He noted the crucial role of this support in boosting revenue, job creation, and fostering a conducive investment environment. Currently, Lapu-Lapu City hosts six ecozones with 324 locator companies, contributing PHP 90.675 billion in investments, $2.322 billion in exports in 2023, and 67,358 direct jobs.

DG Panga also visited other PEZA locators in Cebu, including TMX Philippines Inc. and Pacific Mactan Renewable Environmental Systems Inc. (PMRESI). TMX, one of the first PEZA locators on Mactan Island, has significantly contributed to investments, exports, and employment. PMRESI operates a Solid and Industrial Toxic and Hazardous Waste Treatment facility, upholding PEZA’s commitment to sustainability.

PEZA officials held meetings with several companies, including Lear Automotive Services, E-Safe Facilities & Management Inc., Metro Wear Inc., and Topline Properties and Development Corporation. These companies shared their business plans and challenges, further advancing their investment opportunities on Mactan Island.

PEZA management expressed strong support for the outlined plans to drive valuable investments and create economic opportunities in Cebu and across the country. DG Panga emphasized PEZA’s openness, innovation, and protective stance towards locators, encouraging sustained presence and expansion plans that impact local employment and the economy.

DG Panga concluded, “These endeavors and success stories are the groundwork for achieving a full economic boom. We will continue to make the ecozone program relevant and vibrant, promoting clean and green production and creating more eco-industrial parks in rural and new growth areas to accelerate development and attract more FDIs to the country.”