• DoE pledges lower power costs to Mindanao investors

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    THE Department of Energy (DoE) committed P2.50 per kilowatt hour (kWh) to Middle East businessmen eyeing to invests in Mindanao, Philippine Economic Zone Authority (PEZA) Director General Charito Plaza said.

    “The DoE made a commitment that locators in Mindanao will only pay P2.50 per kilowatt hour from the current rate of P6 per kilowatt hour since we have excess power in Mindanao,” she said over the weekend.

    The DoE asked her to recommend regions as pilot areas in power subsidy, which include the Autonomous Region in Muslim Mindanao (ARMM), Caraga and Region 11.

    Most of the prospective investments from the Middle East will be made in the three regions, which have numerous Muslim population.

    “The Middle East investors would prefer Mindanao. These are Muslims. So they want to help the Filipino Muslims in Mindanao,” Plaza noted.

    “For years, we’ve been deprived of investments, development of our lands, jobs. So, most of the Middle East investors are interested in Mindanao,” she said.

    The investors are interested in tourism, agro-industrial economic zone and halal hubs.

    The Middle East is now importing vegetables, because they don’t have farms, Plaza said.

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