President Marcos to ease entry requirements in energy sector

The country’s power supply woes may soon ease as President Ferdinand R. Marcos Jr. has vowed to further improve the bureaucratic processes, particularly in the energy sector, to attract more investors.

While we already have Republic Act 11032 (Ease of Doing Business Act of 2018), a law that cuts bureaucratic red tape and is serving as an incentive to investors, President Marcos has promised to further ease the process for the energy sector in a bid to address the perennial power supply problem confronting the country.

The chief executive gave this commitment at the inauguration of the 24.9-megawatt Lake Mainit Hydro Power Plant (LMHPP) in Jabonga, Agusan del Norte on July 12, 2023.
By further easing the bureaucratic processes, President Marcos is hopeful this would attract more businessmen, both local and foreign, to invest in the country’s energy sector.

“Let this inauguration serve as an encouragement to potential investors to invest in the country, especially in the power generation and the renewable energy sector. I call once again on our private sector partners to join us as we realize our goal of advancing affordable, reliable, and clean energy for the benefit of our people,” President Marcos, who has been espousing the use of renewable energy, said at the LMHPP inauguration.

If the country—by further easing bureaucratic processes—succeeds in attracting companies to invest in the power sector, particularly renewable energy, President Marcos would be hitting two birds with one stone. He would be easing, if not solving, the power problem and at the same time help in conserving the environment through clean energy use.

With climate change now a global problem, it is necessary to encourage the shift to sustainable or renewable energy to prevent its catastrophic effect.

According to the United Nations, clean sources of energy, such as wind and solar, help address not only climate change but also air pollution and health. In 2018, air pollution from fossil fuels caused $2.9 trillion in health and economic costs, about $8 billion a day.

As a Canadian-American actress and social activist puts it, “Clean energy is about offering people the opportunity to do what’s right for themselves and the people they love. It’s about reducing the pollution that makes people sick. It’s about helping low-income families struggling to pay their gas and electricity bills.”

Let’s do it right for our future.

We express hope that the honorable men and women of Congress will fully support President Marcos’ objective of further easing bureaucratic processes to attract investors in renewable energy.