Philippine Trade Chief Sees Energy as Backbone of Industry

Trade Secretary Alfredo Pascual has emphasized the importance of the energy sector in driving industry developments in the Philippines. He said that the energy sector is a "backbone" for establishing and sustaining industry value chains, and that it is the "main driver" for industry development.

Pascual made the remarks during a meeting with Dutch firm BlueCap Hydro, which is interested in setting up a manufacturing facility for micro grid power generators in the Philippines. Pascual said that the government is committed to supporting the development of the energy sector, and that it is working to create a more conducive environment for investment in the sector.

He said that the government is also working to improve the country's energy efficiency, and that it is targeting to reduce the country's energy intensity by 30% by 2030.

Pascual's remarks come at a time when the Philippines is facing a number of challenges in the energy sector. The country is heavily dependent on imported oil, and it is vulnerable to price volatility in the global oil market. The country is also facing a shortage of electricity, and it is struggling to meet the growing demand for power.

However, Pascual said that the government is confident that the Philippines can overcome these challenges. He said that the country has a number of advantages, including its abundant renewable energy resources. He said that the government is committed to developing these resources, and that it is working to create a more favorable investment climate for the energy sector.

Pascual's remarks were welcomed by industry stakeholders. They said that the government's support for the energy sector is essential for the country's economic development. They said that the energy sector is a key driver of economic growth, and that it is essential for the country to have a reliable and affordable supply of energy.

The government's commitment to the energy sector is a positive development for the Philippines. The country has a number of challenges in the energy sector, but the government is confident that it can overcome these challenges. With the government's support, the Philippines can become a regional leader in the energy sector.