Monday, July 17, 2017

Philippines: Energy sector seen attracting more investments

Philippines: Energy sector seen attracting more investments

The chairman of the Senate Committee on Energy is optimistic that more
investors will be encouraged to closely look at the Philippine energy market
as the government jump-starts the implementation of vital reforms to
eliminate red tape in the energy sector.

Sen. Sherwin T. Gatchalian said the government has taken a big step forward
in addressing energy sector red tape with the issuance of Executive Order
(EO) 30, which streamlines the permitting processes for big-ticket energy
projects and mandates strict timeframes for government agencies to act on
applications forwarded to their offices.

"EO 30 is a signal to investors that the Philippines is serious about
addressing red tape in the energy sector. The executive order will help
address immediate red-tape concerns in the permitting process of energy
projects, while the Energy Virtual One Stop Shop (Evoss) Act of 2017, which
I have already sponsored on the Senate floor, makes its way through the
legislative process," Gatchalian said.

The proposed Evoss Act, an integral part of Gatchalian's legislative agenda
for the energy sector, seeks to cut red tape in the permitting process of
new power-generation projects through the establishment of an online system
that would allow for single submission and synchronous processing of
documentary requirements, assessment and payment of charges and fees, status
updates and progress monitoring, and a synchronized permitting approval
process.

"EO 30 and the Evoss Act are complementary reforms, which will facilitate
the entry of more players into the Philippine energy sector. This, in turn,
will boost competition, resulting in a more stable power supply and cheaper
power costs for consumers," Gatchalian said.

The senator said the comprehensive Evoss Act will widen the scope of the
reforms under EO 30 in several ways, including the appropriation of P50
million annually for the adoption of new technologies and operationalization
of the streamlined permitting process; the setting of specific processing
procedures and time frames for local government units and the National
Commission on Indigenous Peoples; and the imposition of administrative
penalties for failure to comply with the procedural guidelines and time
frames, among others.

"The Duterte administration and the Senate are working hand in hand to
provide sufficient and affordable electricity to the Filipino people.
Addressing bureaucratic inefficiencies by eliminating red tape will help us
achieve this goal. There is much work left to do, but it is clear that we
are heading in the right direction," he said.

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Link to Original Article:
http://www.businessmirror.com.ph/energy-sector-seen-attracting-more-investme
nts/


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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com

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