BOI, ERC ink pact to facilitate power investments, concerns

The Board of Investments (BOI) and the Energy Regulatory Commission (ERC) have signed an agreement to facilitate investments and power-related concerns among electric power industry investors.

In a news release on Thursday, the BOI said the memorandum of agreement (MOA) with the ERC was signed on May 20, 2024.

Under the MOA, both BOI and ERC will collaborate on addressing issues in the electric power industry as well as concerns from the BOI’s clients.

The investment promotion agency said the objective of the agreement is to address issues and concerns of investors related to energy, power consumption, and connectivity.

Trade Undersecretary and BOI managing head Ceferino Rodolfo said that investment facilitation is a crucial pillar for generating investments in the Philippines. 

Rodolfo added that partnership with ERC is crucial for the BOI, especially as the world transitions to green energy.

For her part, ERC chairperson and CEO Monalisa Dimalanta said that the ERC is an active regulator taking a proactive approach to address energy concerns in the country.

“We appreciate this collaboration because we know this is how we can contribute to fostering a positive business climate in the Philippines,” said Dimalanta. —KBK, GMA Integrated News