Peza OKs P3-B Panasonic outlay in Laguna
MANILA, Philippines — The Philippine Economic Zone Authority (Peza) has approved more than P3 billion in new investments from Panasonic Manufacturing Philippines Corp., a deal seen to strengthen the company’s local home appliance production.
Panasonic intends to operate as a domestic market enterprise and launch new projects at the Laguna Technopark. The plan is to manufacture electric fans, refrigerators and washing machines.
Panasonic has been operating at the Laguna Technopark since 2003, but only as an export-oriented enterprise focused on home appliances.
In a statement on Wednesday, Peza said Panasonic’s expansion into the domestic market is expected to begin between 2026 and 2027 and could generate 340 additional jobs during the incentive period.
‘Investor-friendly’
“This latest expansion underscores Panasonic’s continued trust in the Philippines and in Peza’s investor-friendly policies,” the agency said.
Peza added that it welcomed the company’s commitment to expanding operations and creating jobs.
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The deal was signed on Nov. 27 by Peza Director General Tereso Panga and Panasonic president and chair Akio Ota.
Panasonic said its Peza registration as a domestic market enterprise allows it to access fiscal and nonfiscal incentives under the Special Economic Zone Act and Create More Act.
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