So RP can attract foreign investments
New gov't must ensure stable business climate
Business World, June 22, 2004
The incoming administration is under pressure to provide a stable political and economic environment so the country can attract much-needed foreign investment, the European Union's ambassador to Manila said yesterday.
Ambassador Johannes de Kok said European countries in particular were interested to do more business in the country, but that the government still needed to provide the "necessary climate for investment."
"I think more European Union countries will be more interested to explore (possibilities) in the Philippines . Foreign investors want to try to ensure that the investment climate (is conductive)." He told Business World on the sidelines of the celebration of this year's cogeneration week.
Mr. de Kok also noted there was a growing interest among European investors to invest in the country, especially in the area of renewable energy.
He said there was strong commitment from the European Union to support the use of clean and efficient energy. "I'm quite optimistic that more and more EU countries are coming to this region to explore that possibility," he said.
Mr. de Kok also said he hoped to see the new administration support the policy framework of the Department of Energy, which included measures to improve energy supply.
"We hope that new administration will support and push through with that," he said.
Energy Secretary Vincent S.Perez earlier said his department would push long-term objectives in the energy sector:
• double the country's renewable energy capacity by 100% from 2003 to 2013;
• become the largest geothermal producer in the world;
• become largest wind power producer in Asia with a target of 417 megawatts in the next 10
years;
• double the country's hydrocapacity hub in Southeast Asia .
Mr. Perez yesterday said the Philippines has been receiving strong support from the Netherlands, the United Kingdom, Germany, Spain and the Czech Republic in developing renewable energy sources in the country. - Bennet S. Sto. Donmingo
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