Expensive Electricity Cost in the Philippines

[pioneer]

By: Amy R. Remo
Philippine Daily Inquirer

The Philippine government must address its steep electricity rates and come up with more incentives for companies to set up manufacturing hubs, if it wants to step up as the next favored destination in the Asean region.

Anand Kumar, Synovate’s business consulting head for the Philippines, said these moves will allow the country to immediately seize upcoming business opportunities, particularly the full advantages that are expected to come with the Asean Free Trade Area (Afta) agreement.

In a paper entitled “Developments in Asean marketsâ€"Assessing the risks and Opportunities,” Anand identified the Philippines as one of the most promising emerging growth markets next to the giants of India and China.