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Department of Trade and Investment Secretary Alfredo Pascual said Wednesday most investments this year will support renewable energy projects.
“One of the significant policy actions we took at the start of our administration in the middle of last year was to open our country’s renewable energy sector to 100-percent foreign ownership.
“For a long time, our economic growth has been consumer-driven. Our goal is to achieve an investment-led economy that brings shared prosperity to all Filipinos. We seek to harness foreign direct investments as drivers of export growth, sources of vital technology, and critical enablers of the country’s long-term climate action,” Pascual said.
The DTI also welcomes financing and partnerships in the manufacture of energy- efficient maritime vessels and equipment, as well as electronic devices and circuits for smart grid and renewable energy, including wearable solar devices.
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