Palace confident of luring more investments into PHL

By , on July 25, 2014

Wikipedia photo
Wikipedia photo

MANILA — Malacanang has expressed confidence that foreign investments will continue to flow into the country, encouraged by the growing economy.

Presidential Communications Operations Office (PCOO) Secretary Herminio Coloma Jr. stressed this amid concerns that investors might consider pouring in their money in other countries in the wake of the projected power problem here.

“Siguro makikita ng mga investors na proactive tayo dahil — ilagay lang natin sa konteksto, ano — hindi naman in isolation na sinasabi mayroong projected (power) shortage,” he said in a press briefing at the Palace on Thursday.

Coloma said there were already a number of ongoing energy projects in various stages of completion in Luzon, the Visayas and Mindanao even before Energy Secretary Jericho Petilla indicated the projected shortfall.

Based on projections of the Department of Energy (DOE), the PCOO chief earlier said there could be a possible shortfall of 200 megawatts between March and May of 2015.

“Yung pagkakaroon ng sabay-sabay na pagtatayo ng mga plantang elektrisidad ay nagpapakita ng patuloy na kumpyansa ng mga mamumuhunan sa kasiglahan ng ating ekonomiya,” he said.

Coloma said the Philippines is now the fastest-growing economy in Asia.

“Pag tinunghayan natin ‘yung buong sitwasyon ay patuloy naman ‘yung pagdami ng mga electric power plants to address the needs of a growing economy, at nakikita ‘yan ng mga mamumuhunan at ng business community,” he noted.