“The policy change comes as the Philippines seeks to attract foreign investments to boost the renewable energy sector and to meet our long-term climate targets,” the President told business leaders during a roundtable meeting at the 10th Asia Summit Fireside Chat in Singapore.The President, who celebrated his 66th birthday yesterday and is on an official visit to Singapore for five days until Sept. 17, cited energy’s importance in reviving the country’s economy.
He added that foreign investors can now enjoy 100 percent equity in the exploration, development, and utilization of solar, wind, hydro and ocean or tidal energy resources.
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