The Philippine Economic Zone Authority (PEZA) has formally sealed a partnership with Tokyo-based Mizuho Bank, a move seen to attract more Japanese and Asian investments into the country’s ecozones and further enhance the Philippines’ foreign direct investment (FDI) pipeline.
PEZA Director General Tereso Panga signed a memorandum of understanding (MOU) with Mizuho Bank President and CEO Masahiko Kato last week, officially designating the Japanese financial giant as an investment promotion partner.
“We view this as the beginning of a long and productive partnership – one that will help usher in high-quality investments, create more job opportunities for Filipinos,” Panga said.
The renewed agreement builds on an earlier partnership forged in 2012, which had focused on encouraging Japanese firms to establish or expand operations within PEZA zones. Under the new MoU, both PEZA and Mizuho Bank reaffirmed their commitment to facilitate FDI inflows, not only from Japan but also from other Asian economies.
According to Panga, the collaboration will support the generation of more employment opportunities for Filipinos. Around 300,000 Filipinos are currently employed in Japanese companies operating within PEZA-registered zones.
Beyond job creation, PEZA is banking on Mizuho’s deep knowledge of Japanese investor needs, strong global network, and established presence in the country to promote its economic zones more effectively.
The partnership also aligns with PEZA’s broader push for sustainability, as both parties agreed to pursue initiatives under the environmental, social, and governance (ESG) framework. These include programs focused on carbon credits and transition financing to aid companies in shifting toward a low-carbon economy.
“This partnership will help us build a more resilient and globally competitive economy,” Panga added.
The agreement comes as PEZA reports strong investment performance in the first half of 2025. Investment approvals surged 59 percent to P72.36 billion, up from P45.48 billion during the same period last year. The new and expansion projects approved totaled 133 and are expected to create nearly 33,000 jobs and generate $1.26 billion in export revenues.
South Korea led the list of top investors from January to June 2025, followed by the United States, China, the Netherlands, and Japan.