PEZA’s Investment Surge Linked to Presidential Diplomacy

Marcos Jr.’s Foreign Engagements Boost Philippine Investments

The Philippine Economic Zone Authority (PEZA) reported a substantial part of its 2023 investment approvals, totaling P175.7 billion, were influenced by President Ferdinand Marcos Jr.’s international visits. PEZA Director General Tereso Panga highlighted that 43% of these investments were associated with the nations the President visited, underscoring the impact of his diplomatic efforts on the country’s investment influx.

Economic Fundamentals and Presidential Influence

While acknowledging that the robust investment figures also stem from the Philippines’ solid economic fundamentals, Panga credited President Marcos Jr. for his proactive role in promoting the nation to global investors. The director general pointed out the president’s active participation in boosting the Philippines as an attractive investment destination.

Growth and Targets

PEZA’s investment approvals saw a 25% increase from P140.7 billion in 2022 to P175.7 billion in 2023. With this upward trend, PEZA aims for an ambitious P250 billion in approved investments for 2024. This target aligns with the positive indicators for exports and employment, reflecting the country’s promising economic outlook.

Philippines’ Economic Resilience and Growth

The nation has showcased remarkable economic recovery and growth, particularly post-COVID-19, with a notable 103% increase in investments during the latter half of Marcos Jr.’s term. PEZA’s operational success, with 422 economic zones hosting over 4,300 export-oriented companies, further signifies the Philippines’ dynamic economic environment, leading ASEAN in GDP growth for three consecutive years.