The Philippine Economic Zone Authority (PEZA) is actively courting American companies, highlighting the country’s potential despite infrastructure limitations.
PEZA director-general Tereso Panga presented updates at the American Chamber of Commerce of the Philippines forum, emphasizing the Marcos Jr. administration’s efforts to improve logistics and infrastructure. Panelists pointed out areas needing significant improvement.
PEZA said it remained optimistic about the Philippines’ economic prospects and potential for attracting US investment, citing factors like the “China+1” strategy, the US CHIPS Act and the US-Japan-Philippines trilateral agreement.
“We also see our investors taking advantage of the upcoming Luzon economic corridor which will support connectivity among Subic Bay, Clark, Manila, and Batangas as well as facilitate strategic, anchor investments within each hub in high-impact infrastructure projects among others,” Panga said.
A top investment promotion agency (IPA), PEZA is optimistic about processing $100 billion in investment deals from the US and Japan in various sectors including electronics manufacturing, clean energy, agriculture and infrastructure development. The Philippines’ consistent economic growth within ASEAN is another selling point, it said.
