President Benigno S. Aquino III on Friday vowed to
address the concerns of the business sector, especially
those on power supply and port congestion, to achieve the
country's goal of inclusive growth.
hundreds of the country’s top business executives and
entrepreneurs during the 40th Philippine Business Conference
and Expo held at the Manila Hotel, the President thanked the
business sector for coming up with resolutions that will
help the government pinpoint areas that need to be improved.
“Let me be the first to say that we are in agreement
with your concerns; this is not the first time we have heard
about these matters, and I can assure you that practically
all aspects of your resolutions are already being addressed
by government,” he said.
On the formulation of an
integrated and sustainable energy and power development
roadmap, President Aquino said “the efforts to reform the
power industry, as embodied in the Electric Power Industry
Reform Act (EPIRA), is still a work in progress.”
noted that “just-in-time” energy supplies do not attract
more investment, hence the need to change the business
model, which he said is also a work in progress.
“The work will infinitely be faster and more efficient with
the cooperation of the business sector.
around three major entities in power today who are investing
in the sector, even without long-term power purchase
agreements or power supply contracts,” he said, adding that
he hopes more investors would follow suit and would seek
ways and means to encourage more to follow their track.
(full story: 10.24.14)