Philippine Economic Zone Authority (PEZA) director general Tereso Panga said that amid recent developments in key oil-producing regions, which have contributed to elevated global oil prices — increasing operational costs across global supply chains, they remain watchful if their locators in the country feel its brunt.

In an exclusive interview on Sunday, Panga said that given Asia’s heavy reliance on energy imports passing through critical shipping routes such as the Strait of Hormuz, these pressures may influence manufacturing costs, trade flows, and investment sentiment in the near term.

DG Panga stated, “Alongside the Philippine economic team led by Department of Finance Secretary Frederick Go, DTI Secretary Cristina Roque, and other key agencies, we are closely monitoring global developments, particularly those affecting energy costs and supply chains, and their potential impact on investment flows.”

“I’m still confident that we will be able to meet our targets for this year based on our current assessment. However, if the conflict in the Middle East continues, I certainly believe that there will be global adjustments in the investment decisions of global companies. We are ready for this, and we expect it before it even happens. There are two kinds of investors: the first kind is the one that prepares for events like this; the other waits for the results. I believe our type of investors are long-term and belong to the first kind,” he said.

He reminisced that with its 30 years of existence, PEZA has seen the same crises — the so-called boom-and-bust cycle — that changed the investment landscape and ecozone environment.

And through each challenge, Panga said PEZA has consistently demonstrated the ability to recover and grow.

“The Philippines remains well-positioned to navigate these challenges, backed by our strong macroeconomic fundamentals and reform-driven policy environment. We may still meet the targets set for the year. But there will be global trade adjustments if the Middle East conflict continues. Part of the boom and bust cycle. But there is confidence in the type of investors we have who are in for the long haul,” he said.

P45.5-B approved investments in Q1

Earlier, Panga reported that investment approvals in Philippine economic zones reached P45.5 billion in the first quarter, signaling steady investor interest despite rising global uncertainties.

He said the PEZA Board approved 78 new and expansion projects from January to March 2026, marking an increase from a year earlier and pointing to a growing pipeline of export-oriented ventures.

“This performance reflects sustained investor confidence in the ecozones and in the Philippines as a competitive investment destination, even as global economic conditions remain volatile due to rising energy costs, supply chain adjustments, and geopolitical tensions,” Panga said.

The projects are expected to generate $10.86 billion in exports and create 8,496 direct jobs, reflecting a continued shift toward higher-value activities.

The manufacturing sector has led the approvals, followed by ecozone development, IT and business process management, and logistics-related investments.

Large-scale ventures accounted for a significant share of approvals, with 10 major projects contributing more than P36 billion.

These developments highlight investor preference for high-impact operations aligned with global supply chain requirements.

In March alone, PEZA approved 26 projects worth P10.16 billion, with export projections rising sharply compared to the previous month. Investment activity remained concentrated in Luzon, particularly in CALABARZON and Metro Manila, while the Visayas and Mindanao posted smaller but steady gains.