Strong Support for PEZA Leadership Amid Government Reshuffle
Economist and outgoing Albay 2nd district representative Joey Salceda has made a strong appeal for President Marcos to retain Theo Panga as the director-general of the Philippine Economic Zone Authority (PEZA). This call comes amid an executive branch-wide reorganization currently underway.
Salceda emphasized the importance of continuity in leadership, stating, “I respectfully urge His Excellency President Ferdinand R. Marcos Jr. to keep Director General Theo B. Panga in service. His continued leadership will help secure the President’s goal of positioning the Philippines as a top investment destination in Southeast Asia.” The keyphrase “top investment destination in Southeast Asia” highlights the administration’s ambition and underscores the strategic importance of Panga’s role at PEZA.
Strategic Appointments and Record-Breaking Performance
The three-term congressman praised President Marcos for making numerous impactful appointments, with Theo Panga standing out as one of the most confidence-inspiring choices. As chair of the House Committee on Ways and Means and principal author of the CREATE and CREATE MORE laws, Salceda expressed his full support for Panga’s continued leadership.
According to local experts, Panga has been a highly strategic and effective appointment. Under his guidance, PEZA approved investments totaling ₱201.55 billion as of November 2024. This figure not only exceeded the agency’s full-year target but also marked PEZA’s highest performance in over ten years.
Growth Amid Global Economic Challenges
Salceda pointed out that this achievement is remarkable given the current global slowdown in foreign direct investment. Despite worldwide economic uncertainty, PEZA under Panga saw a 43.06 percent increase in investment approvals compared to the previous year. Investor interest remained particularly strong in sectors such as renewable energy, semiconductor packaging, agribusiness, and logistics.
These sectors align closely with the priority areas championed by the President under the Bagong Pilipinas framework. Salceda noted, “What makes this achievement more significant is the context. While global foreign direct investment flows have slowed, PEZA posted impressive growth with strong investor interest in these key sectors.”
Ensuring Stability During Policy Transitions
The PEZA chief also played a crucial role in maintaining stability during the implementation of the CREATE and CREATE MORE laws, which restructured the country’s fiscal incentive system. Salceda explained that Panga ensured PEZA remained responsive, compliant, and investor-friendly throughout this major policy shift.
“Retaining him is not simply about continuity,” Salceda added. “It is about strengthening the Marcos administration’s credibility with the business community, reinforcing the message that good performance is rewarded, and protecting one of the most effective economic engines of the government.”
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