Pasay city: Philippine Economic Zone Authority (PEZA) Director General Tereso Panga has expressed optimism about hitting the agency's PHP300-billion investments approval target for 2025. After the Board's meeting last December 12, PEZA-approved investments for the year amounted to PHP238 billion, Panga revealed to journalists during the agency's 30th anniversary celebration in Pasay City on Monday night.

According to Philippines News Agency, Panga noted that the agency is still receiving applications, with many investors eager to secure approvals by the next Board meeting scheduled for December 22. He mentioned that at least four of these applications involve big-ticket items, including an 'ultra luxury' brand from Japan and the United States, which will be part of the manufacturing sector, among others.

Panga emphasized that even if the agency does not achieve its approvals target for 2025, reaching it next year is a certainty. He attributed his confidence to ongoing promotional activities abroad, including an upcoming trip to the United States. "This will bring us back to the heydays of PEZA. We're hoping and praying it's going to be an upward consistent trajectory," he stated.

Highlighting the positive sentiment among investors, Panga observed that they are investing with a future-oriented perspective, demonstrating significant trust and confidence in the current leadership. He also mentioned that reforms will be implemented to further enhance PEZA's policies, fostering a more conducive environment for investment.