Cusi says Philippines to tap energy investors during ASEAN meetings

Energy Secretary Alfonso Cusi on Thursday said the Philippines can attract energy sector investment by seizing the opportunity during meetings and related events of the Association of Southeast Asian Nations (ASEAN) this year, which it chairs.

"Dito sa ASEAN Summit nag-i-invite tayo ng investors in energy. So it is an opportunity for us to tell our neighbors that there is this development happening in the Philippines and they can participate," Cusi said on the sidelines of the Wallace Business Forum in Makati City.

The development is the golden age of infrastructure, an ambitious infrastructure program of the Duterte administration that is estimated to cost more than P8.2 trillion.

During the second round of the Dutertenomics Forum on Tuesday, the Energy chief noted the Philippines needs an additional 43,000 megawatts (MW) of energy to support the golden age of infrastructure and the 25-year long-term vision of development.

An estimated $55 billion of investments is needed to cover an initial 17,000 MW and up to $80 billion to fund 26,000 MW more.

"It's open for all, and who can offer the best for the Philippines. Sigurado naman ako na may papasok diyan," Cusi said.

"In fact, sa August 7-11 we are hosting the Asia Cooperation Dialogue. Pag-uusapan dito ang energy as the nexus of food, water, and electricity," he added. — VDS, GMA News