Power problem saddles RP

By Francis Allan L. Angelo

EXPENSIVE and unreliable power is one of the top three reasons why the Philippines is lagging behind other Southeast Asian nations in terms of investments.

This is one of the observations presented by Professor Winston Conrad Padojinog of the University of Asia and the Pacific (UAP) during a forum sponsored by the Iloilo Economic Development Foundation (ILED) at Amigo Terrace Hotel Saturday.

TALKING BUSINESS - Iloilo Business Club president Antonio Jon, ILED president Rex Drilon and ILED chair Alfonso Uy (seated, L-R) listen to the discussion of Prof. Winston Conrad Padojinog on challenges and opportunities for Iloilo’s business sector.(FAA)

In his presentation on challenges and opportunities for Iloilo City, Padojinog pointed out that power is one of the obstacles to the entry of business investments in the country.

Padojinog said the Philippines has one of the lowest foreign investment rates in southeast Asia.

“The Philippines is a laggard in terms of foreign investments,” Padojinog said.

ILED president and Ilonggo business executive Rex Drilon echoed Padojinog’s observation saying expensive and unreliable supply of electricity is a major discouragement for potential investors.

“Our power problem is the biggest stumbling block to Iloilo’s growth. Most of the comment I hear from investors is ‘Bakit tayo pupunta ng Iloilo e mahal ang kuryente at palaging brownout’,” Drilon said.

Drilon said projects that could bring more supply of electricity to the city and province of Iloilo is a big boost to the local economy.

ILED chair Alfonso Uy said there is a need to reverse the downtrend in Iloilo’s economy. He also welcomed the proposal of firms interested in putting up power plants in the city and province.