PEZA Beats Full-Year Investment Target as October Approvals Reach P12.5 Billion
Key Takeaways
- •PEZA's investment approvals for the first 10 months of the year reached approximately P310 billion, exceeding the agency's P300 billion full-year target with two months still remaining.
- •October approvals totaled P12.5 billion across 18 new and expansion projects, a 40% decline from the P20.66 billion and 28 projects cleared in the same month last year.
- •The October projects, backed by investors from Hong Kong, China, the United States, Singapore, and Japan, are projected to generate $178.203 million in exports and 5,484 direct jobs.
- •Year-to-date approvals surged 76.56% from P175.37 billion, leaving only about P2.37 billion needed to surpass the all-time record of P312 billion set in 2012.
- •An economist attributed the strong approvals to global supply chain diversification, growing interest from Asian investors, and incentives under the CREATE MORE Act, with the Luzon Economic Corridor expected to drive further investment.
The Philippine Economic Zone Authority (PEZA), the government agency that oversees the country's special economic zones, approved P12.5 billion worth of investments in October lifting its 10-month total to P310 billion and pushing past the agency's full-year target with two months still remaining in the year.
In a statement issued on Thursday, PEZA said October approvals fell 40% from the P20.66 billion cleared in the same month last year. The pledges cover 18 new and expansion projects, down from the 28 approved a year earlier.
According to the agency, the October projects are expected to generate $178.203 million in exports and create 5,484 direct jobs.
Where the October Projects Are Headed
Fifteen of the newly approved projects are located in Luzon — six in Metro Manila, eight in the Calabarzon region covering Cavite, Laguna, Batangas, Rizal, and Quezon, and one in Central Luzon. In the Visayas, two projects were approved in Cebu and one in Iloilo.
By industry, six of the October approvals involve information technology-business process management (IT-BPM) operations, the outsourcing segment spanning back-office and customer-service functions, while four are ecozone development projects. The agency also cleared three manufacturing projects, three logistics enterprises, and two facilities projects.
The October investments came from Hong Kong, China, the United States, Singapore, and Japan, PEZA said. The projects are also expected to drive demand for services, logistics, infrastructure, and suppliers.
10-Month Tally Nears All-Time Record
Over the first 10 months of the year, PEZA-registered approvals surged 76.56% to P309.63 billion from the P175.37 billion approved a year ago. The tally has already exceeded the full-year goal of P300 billion and sits just below the all-time record of P312 billion in investments set in 2012. That leaves a gap of roughly P2.37 billion for November and December approvals to close, making the year-end tally the next checkpoint for whether the 2012 record falls.
PEZA Director-General Tereso O. Panga said the elevated approvals reflect investors' sustained confidence in the Philippines.
"The agency is confident that it will set a new investment record this yearend as it receives more inquiries and interest from potential investors," PEZA said.
The end-October investments involve 240 new and expansion projects, estimated to generate $9.12 billion in export value and create 38,815 direct jobs.
Quarterly approvals gathered pace through the year, with P45.53 billion approved in the first quarter, P95.16 billion in the second, and P156.45 billion in the third.
"These results show that the Philippines can capture a larger share of global investment as companies look for competitive production and export locations," Mr. Panga said.
By region, the majority of approved projects — 200 — are located in Luzon, followed by 28 in the Visayas and 12 in Mindanao. Manufacturing led all sectors with 92 approved projects, ahead of IT-BPM with 40, ecozone development with 38, facilities with 25, and logistics with 21. Other industries with approved projects include domestic market enterprises (17), tourism (four), and utilities (three).
The top investors during the 10-month period came from Taiwan, the Netherlands, South Korea, Singapore, and Indonesia, PEZA said.
Analysts Point to Supply Chain Shifts
"PEZA's strong investment approvals is partly driven by the diversification of global supply chains, growing interest from Asian investors, and improved investment incentives under the CREATE MORE (Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy) Act," Diana R. Rueda, an economics professor at the University of Asia & the Pacific, said in a Viber message.
Looking ahead, she said the Luzon Economic Corridor (LEC) is expected to help drive more investments across PEZA economic zones.
"This could position the Philippines more competitively within regional production networks, especially in electronics and advanced manufacturing," Ms. Rueda added.
The LEC is a multi-country partnership that seeks to attract investments meant to connect economic hubs such as Subic Bay, Clark, Manila, and Batangas.
This article was originally reported by Beatriz Marie D. Cruz, Senior Reporter, for BusinessWorld on October 22, 2026.
