PHL high power cost forced investors to have a second thought

Several economic experts claim that the vital factor that elevated the Philippine economy during the Ramos administration was the reform of the government on power and energy sector which puts an end to the power crisis that crippled Filipino homes and industries for two years thus resulting to attraction of many foreign investors.

A decade had passed recession struck in the Western economies, particularly the members of the European Union (EU) and the United States. Even China and India also experienced economic slowdown. As the economic problems continue to ravage those large economies in the world, most investors are now eyeing emerging countries in the Asia-Pacific. These include Indonesia, Thailand, Malaysia, South Korea, Taiwan and the Philippines where impact of economic turmoil are tolerable

This wave of investors has been very timely for the Philippines as several economic experts claim that the country is one of the emerging tiger economies in Asia. Many also believe that this progress can become sustainable due to several factors that support the country's economic fundamentals such as, the growing BPO sector, strong currency, billions of foreign reserves, young English speaking population, best performing stock market, more transparent administration, and the growing domestic spending. These factors have brought back the Philippines to the international investors’ radar and were dubbed as the economic bright spot in Asia. 

However, beyond those positive outlooks on the Philippines economy some investors have seen several aspects that force them on having second thoughts whether to expand or to establish their business operations here. Other than relatively lesser supportive legislations toward foreign investments, high intrinsic cost of power supply in the country was tagged as one of the main culprits why most investors hesitate to invest in the Philippines. Continue Reading here...