Economist-solon Albay 2nd district Rep. Joey Salceda has made an aggressive push for President Marcos to retain Theo Panga as director-general of the Philippine Economic Zone Authority (PEZA) amid the latter's executive branch-wide revamp.
"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," Salceda said on Wednesday night, May 28.
The outgoing three-term congressman says Marcos has "made many grand-slam appointments as President, and Theo Panga in PEZA is among the President’s most confidence-building appointments".
"As chair of the House Committee on Ways and Means and principal author of the CREATE and CREATE MORE laws, I express my full and respectful support for retaining Director General Theo Panga as head of PEZA," Salceda said.
According to him, Panga has been one of the most strategic appointments made by Marcos, and has turned out to be one the most effective.
"Under his leadership, PEZA approved ₱201.55 billion in investments as of November 2024, surpassing its full-year target and marking PEZA’s highest performance in over a decade," Salceda said.
"What makes this achievement more significant is the context," noted the outspoken solon from Bicol.
"While global foreign direct investment flows have slowed, PEZA under Director General Panga posted a 43.06 percent increase in approvals compared to November 2023, with strong investor interest in renewable energy, semiconductor packaging, agribusiness, and logistics .These are the same priority sectors championed by the President under the Bagong Pilipinas framework," he said.
He further said that the PEZA chief played "a key role in steadying the ship during a time of global economic uncertainty and major policy transition".
"As the government implemented the CREATE and CREATE MORE laws, which fundamentally restructured our fiscal incentive system, he ensured that PEZA remained responsive, compliant, and investor-friendly," Salceda said of Panga.
"Retaining him is not simply about continuity. 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," Salceda further said in his message of support for Panga.