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Tereso Panga leaves the Philippine Economic Zone Authority as director general with pride and gratitude, having been the first head of the investment promotion agency from the ranks
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Panga leaves PEZA after consistently meeting its annual investment targets, culminating in a historic P315.5 billion in approved investments as of November 10, 2026, surpassing the longstanding P311.9-billion record set in 2012
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Panga has been with PEZA for 28 years, and was appointed director general in 2023
Tereso Panga leaves the Philippine Economic Zone Authority (PEZA) as director general with pride and gratitude, having been the first head of the investment promotion agency from the ranks.
In a post on his personal social media page on November 13 titled “Signing off with all the warmth”, Panga extended his “warmest congratulations and best wishes to my successor”, Joshua Bingcang, and wished him “every success and offer my wholehearted support for a smooth transition and PEZA’s continued progress.”
Panga, who started his career at PEZA 28 years ago, was appointed director general in March 2023. Prior to this, he was officer-in-charge since July 2022 and had been deputy director general for policy and planning since 2010.
He joined PEZA in 1998 and rose from the ranks, becoming division chief of policy planning in 2000, zone manager of Lima Technology Center and other economic zones in Batangas in 2002, and zone administrator of Baguio City Economic Zone in 2004 and Cavite Economic Zone in 2008.
Looking back, Panga said he takes pride in what the agency has accomplished.
Meeting investment targets
Under the current administration, Panga noted PEZA consistently met its annual investment targets, culminating in a historic P315.5 billion in approved investments as of November 10, 2026, surpassing the longstanding P311.9-billion record set in 2012.
READ: PEZA hits full-year P300B target with P12.5B approved investments in Oct
Moreover, Panga said PEZA modernized and streamlined its office processes through The One Portal System, providing for cashless and paperless transaction system; championed ease of doing business, as cited by many reputable local and international institutions; and advanced workforce development through its AI Academy, in collaboration with the Technical Education And Skills Development Authority and Stacktrek, training some 27,000 Filipinos.
PEZA also established the country’s first Mold Industry Technology Center, in partnership with the Metals Industry Research and Development Center and PDMA, Inc., which has trained more than 8,000 workers in computer numerical control design and machining.
PEZA also completed the new PEZA Investment and Corporate Center, a LEED-gold 14-storey building, finally giving the agency a permanent home of its own.
Creating jobs
Beyond milestones, Panga said “what brings me the greatest fulfillment is knowing that our efforts to attract investments and support business expansion have resulted in the actual creation of more than 100,000 new, quality jobs for Filipinos.”
“These are more than statistics. They represent real livelihoods, greater opportunities, and brighter futures for Filipino families. Behind every job is a Filipino worker, a family, and the hope for a better future. To me, that has always been PEZA’s true north,” Panga noted.
He acknowledged that “None of these achievements would have been possible without the guidance of Almighty God, the dedication of the men and women of PEZA, the stewardship of our Board, and the trust and support of our solid partners in government (including PTICs [Philippine International Trading Corp.], Ph embassies and consulates) and industry—especially PHILEA [Philippine Ecozones Association], SEIPI [Semiconductor and Electronics Industries in the Philippines Foundation, Inc.], IBPAP [IT & Business Process Association of the Philippines], Joint Foreign Chambers of the Philippines, PEZA Investment Promotion Partners, and the investment community. These accomplishments belong to all of us.”
In the latest government shakeup, Bingcang is moving to PEZA after heading the Bases Conversion and Development Authority (BCDA). Former Bureau of Customs (BOC) commissioner Ariel Nepomuceno takes the BCDA top post while former Bureau of Internal Revenue (BIR) commissioner Charlito Martin Mendoza heads the BOC. Finance undersecretary Rolando Ligon, Jr., meanwhile, will replace Mendoza at the BIR.
