The Philippine Economic Zone Authority (PEZA) is intensifying its efforts to attract additional automotive investments, particularly in the electric vehicle (EV) sector, as it positions its economic zones as manufacturing and export hubs.

PEZA Director General Tereso Panga stated that the agency's economic zones offer investment-ready locations, financial incentives and logistics connectivity that could appeal to vehicle manufacturers seeking to expand their operations in the Philippines.

According to Panga, Indonesian automotive companies Astra Visteon and Diametral Involute have recently registered with PEZA. Another company that PEZA is seeking to attract is VinFast Auto, the Vietnamese EV manufacturer, which has already established a presence in the Philippines through vehicle sales and its partnership with Green GSM.

In a message to a local daily, Panga said that VinFast is studying the possibility of establishing charging facilities within PEZA sites and could also explore manufacturing EV charging equipment within the economic zones.

"The entry of VinFast into ecozones would complement PEZA's ongoing initiatives to attract investments in electric vehicle manufacturing, battery assembly, automotive electronics, charging infrastructure and other sustainable mobility technologies," PEZA said.

"We expect more Vietnamese manufacturing firms to consider locating in Philippine ecozones to take advantage of our growing domestic market, strategic location, skilled workforce and preferential access to key destinations," Panga further added.

VinFast has been expanding its presence in the Philippines. Last month, its charging infrastructure unit partnered with the Provincial Government of Bataan to deploy 600 charging stations and 1,200 battery-swapping stations.

Business mission

PEZA said that it had also discussed with Vietnamese Ambassador to the Philippines Lai Thai Binh the possibility of organising a business delegation to the Philippines that could include representatives from VinFast.

Panga said that the agency expects stronger economic ties between the Philippines and Vietnam following Vietnamese President To Lam's two-day state visit last month.

"The upgraded partnership opens new opportunities for Philippine and Vietnamese businesses to collaborate, integrate into regional supply chains and strengthen their presence across ASEAN and global markets," he said.

Panga further added that, while the Philippines and Vietnam compete for foreign direct investment and export opportunities, both countries could benefit from deeper cooperation.

"While the Philippines and Vietnam naturally compete for foreign direct investment and export opportunities, there is significant potential to achieve synergies through complementary market strategies within ASEAN," he said.