The Philippine Economic Zone Authority (PEZA) has opened the second half of 2026 with ₱151.9 billion in total investment approvals, reflecting the country's strengthening position as a premier destination for foreign direct investment in Southeast Asia. The milestone, announced following PEZA's board meeting on July 16, underscores the transformative impact of the CREATE MORE Act and the Strategic Investment Priority Plan (SIPP) 2025–2028 on the Philippine investment landscape.
The Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act represents the Philippines' most ambitious fiscal reform for attracting foreign capital. Building on the original CREATE Act, the updated legislation introduces a more targeted approach towards attracting high-value and innovation-driven investments, with the revised SIPP serving as the government's principal roadmap for granting fiscal incentives.
Under the SIPP 2025–2028 framework, qualifying enterprises can access enhanced fiscal incentives including income tax holidays, enhanced deductions, and preferential customs duties. The revised plan specifically prioritizes projects in advanced manufacturing, green technology, digital infrastructure, and research and development.
PEZA Director General Tereso O. Panga attributed the sustained investment momentum to the country's improving investment climate and the agency's sustained promotion efforts across key markets in Asia, Europe, and North America. The ₱151.9 billion figure encompasses investments across PEZA-registered economic zones, including manufacturing, IT-business process outsourcing, agro-industrial, and tourism economic zones.
The agency has been particularly active in courting Chinese manufacturers seeking to diversify production bases amid global supply chain realignment. PEZA's ecozone model offers foreign investors 100% foreign ownership in export-oriented enterprises, streamlined one-stop-shop services, and simplified import-export procedures.
For Chinese companies evaluating Southeast Asian expansion, the Philippines now offers a compelling value proposition. The CREATE MORE Act, combined with recent amendments to the Public Service Act that opened previously restricted sectors to full foreign ownership, has significantly liberalized the investment regime. Key sectors now accessible to 100% foreign ownership include telecommunications, railways, airlines, and shipping.
The timing is particularly relevant as Chinese manufacturers navigate escalating tariffs in traditional export markets. PEZA-registered enterprises benefit from access to the Philippines' free trade agreements, competitive labor costs, and an English-proficient workforce — factors that position the country as a strategic complement to existing ASEAN operations.
The Philippines' investment reforms position it competitively within the ASEAN FDI landscape. Compared to Vietnam — which has seen its own FDI policy overhaul through Resolution No. 10 and Decree 142 — the Philippines offers a distinct value proposition: lower labor costs in certain regions, a large domestic consumer market of over 115 million, and a legal system grounded in familiar common law principles.
PEZA's ecozone model is particularly relevant for Chinese manufacturers in sectors such as electronics, automotive components, and renewable energy equipment. The agency has been actively courting investment from China, Japan, and South Korea, with dedicated investment promotion teams operating in key Asian markets. Recent amendments to the Build-Operate-Transfer (BOT) Law and the Retail Trade Liberalization Act have further expanded foreign participation opportunities.
Industry observers note that the Philippines' investment approvals trajectory suggests the country could exceed ₱300 billion in PEZA-registered investments by year-end, marking a potential record year for foreign capital inflows. For Chinese enterprises diversifying their ASEAN footprint beyond traditional manufacturing hubs, the Philippines' 2026 investment policy environment warrants serious consideration.
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*This article is based on PEZA's July 2026 announcement, Chambers and Partners' Doing Business In... 2026 Philippines guide, and Triple i Consulting's Philippine investment law analysis.*
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