PEZA leverages ME war to bolster ASEAN relations
‘The Philippines continues to prove its adaptability and readiness as a leading manufacturing and innovation hub, ensuring that growth remains both resilient and inclusive in the face of a changing global economy.’
AT the conclusion of the 48th ASEAN Summit and Related Meetings, Philippine President Ferdinand Marcos Jr. and the 10 leaders of the regional bloc agreed that as the crisis in the Middle East continues to affect oil supply routes and drive up fuel and food prices, they must work more closely together to protect their citizens. The leaders also discussed practical steps to help keep fuel and essential goods stable, keep trade and supply routes open, and strengthen coordination to protect and assist ASEAN nationals affected by the crisis in the Middle East.
Photo courtesy of President Ferdinand Marcos Jr./FB
As recent shifts in the global trade landscape, characterized by changing manufacturing footprints and evolving geopolitical alliances, have prompted multinational firms to seek more secure and integrated production hubs, the Philippine Economic Zone Authority (PEZA) is strategically leveraging transitions to capture high-value opportunities.
PEZA Director General Tereso Panga said the silver lining they learned from the Middle East conflict is to enhance relations among ASEAN members further.
As global supply chains move toward “friend-shoring” and regional diversification, Panga likewise said that the ability to provide a predictable and efficient regulatory environment has become a game-changer for investment destinations.
“In collaboration with the Philippine economic team — including Finance Secretary Frederick Go and DTI Secretary Cristina Roque, we are proactively aligning our investment strategies with the evolving needs of the global market,” Panga said.
Challenges emerge
He said that challenges arising from the United States-Iran conflict allow PEZA to strengthen Inter-ASEAN trade relations by establishing new supply chains and deeper cooperation among key industries such as energy, renewables and agriculture.
“While these external shifts present new complexities, the Philippines’ commitment to institutional stability and investor-friendly reforms serves as a powerful magnet for long-term capital. We are not just observing global trends and strengthening relations with our regional neighbors; we are positioning the country to lead in the new industrial order,” he noted.
As PEZA continues to promote and facilitate investments across the country, Panga said it remains steadfast in its mission to drive development in the countryside and create employment opportunities for Filipinos.
Through its hallmark “No Red-tape only Red-Carpet Treatment” and the continuous modernization of the PEZA Law, the Authority reaffirms its role as a stable anchor for foreign direct investment.
“The Philippines continues to prove its adaptability and readiness as a leading manufacturing and innovation hub, ensuring that growth remains both resilient and inclusive in the face of a changing global economy as envisioned by President Ferdinand Marcos Jr.,” according to Panga.