The Philippine Information Agency hosts a weekly press conference in Quezon City. (Photo by Jumalynne Doctolero/PIA-NCR)

MANILA, (PIA) — Philippine Economic Zone Authority (PEZA) Director-General Tereso Panga on Friday, September 8, highlighted the far-reaching benefits of local job creation, including increased revenues for local government units (LGUs), in their agency’s bid to stimulate economic growth and benefit Filipino communities across the nation.

“Sa amin, kung saan meron mga (On our part, whenever there are) ecozones hosted by the LGUs, they are the ones who are doing well. They’re the most vibrant, as an economy, as a local economy, lahat ng LGUs na mayroong (all the LGUs with) economic zones,” Panga said during a press conference organized by the Philippine Information Agency in Quezon City.

He said for the first year of President Ferdinand R. Marcos, Jr.'s administration (July 2022- June 2023), PEZA has by far generated investments of P198.796 billion worth of investments from 206 projects, actual direct jobs of 1,805,770 (cumulative), and actual direct exports of $58.494 billion.

The official said PEZA has been taking a proactive stance, with a key emphasis on job creation and job security as its primary objectives in attracting foreign investments and locators. 

“And so PEZA will continue to be relevant, vibrant, and responsive to the needs of our locators to keep up with the demands of our agile locators. So we will continue to enhance our ease of doing business, so we can attract more investments into the country, promote the creation of more ecozones in rural and new growth areas to be able to generate more jobs, exports, and other economic opportunities for the country,” he added, affirming PEZA’s unwavering commitment to actively pursue these goals as part of the agency's ongoing efforts in nation-building.

Panga said foreign investments and locators should yield an "immediate impact" on the lives of Filipinos residing in the areas where they operate, as he recognized that economic zones have historically played a pivotal role in job creation, contributing significantly to regional development.

To achieve these objectives, PEZA has formed strategic partnerships with its locators and industry associations on creating "secured" jobs that drive economic growth. 

Moreover, he said PEZA is collaborating closely with the semiconductor and electronics industries in the Philippines and with TESDA to prepare the local workforce for advanced manufacturing. 

The agency is also working with an ecozones association to develop world-class and environmentally friendly economic zones in rural and emerging areas, further spurring countryside development.

Beyond its focus on job creation, Panga said PEZA is committed to pursuing other top priorities, including the establishment of new types of special economic zones.

These innovative zones, he added, will introduce various models, such as the Agro-Forestry Ecozone, Aquamarine Park, Defense Industrial Complex, Halal Hubs, Knowledge, Innovation Science and Technology (KIST) hubs, Renewable Energy Ecozone, Pharma Park, and more. (PIA-NCR)