President Ferdinand Marcos Jr.'s foreign visits in 2023 contributed to nearly half of the total investments approved by the Philippine Economic Zone Authority (PEZA), amounting to P75 billion out of P175.7 billion. This marks a 25% increase from the previous year. PEZA Director General Tereso Panga attributes the significant increase to the President's effective outreach efforts and utilization of free trade agreements.
President Ferdinand Marcos Jr. ’s foreign visits last delivered nearly half of the total investments approved by the Philippine Economic Zone Authority in 2023, according to its Director General Tereso “Theo” Panga.
“I would say that it’s because of the President reaching out to people and economies and taking advantage of our FTAs that we as a nation are able to attract investments,” he said. “The President is very clear in his messaging that the Philippines is ready to attract investments.” “New entrant investors have always preferred the National Capital Region as the location for their businesses. Unfortunately, with the moratorium in place, we might be limiting the scope of new partnerships and slowing down our development,” Panga lamented.
Additionally, Panga upheld a report published by Leechiu Property Consultants that projected the need for “one million seats in office spaces, effectively doubling the current capacity in Metro Manila.” The PEZA chief warned that a shortage in IT centers and office spaces is on the horizon if the moratorium stays in place.
President Ferdinand Marcos Jr. Foreign Visits Investments Philippine Economic Zone Authority PEZA Increase Outreach Efforts Free Trade Agreements
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