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PIA Press Release

PGMA's Statement during the Signing of the Executive Order on Generating Investments in Geothermal Areas

Davao City, September 10, 2007

Gi-abi-bi ko si Pastor Quiboloy ug ang tanan nga mga apil sa Kingdom of Jesus Christ, the Name Above Every Name, ni-ining inyong anibersaryo. Gapasalamat ako sa oportunidad aron maka-apil sa inyong International Kingdom Leaders Convention dinhi sa syudad sa Davao.

Nagtipon kita sa ngalan sa kalinaw, pangahiusa ug rekonsilasyon, kay kini ang labing kinahanglan karon. Salamat sa kanunay ninyong suporta ug pag-ampo alang sa padayon ng kaayuhan sa atong nasod ug katawhan.

This morning we arrived from the APEC Summit which presented another opportunity to engage allies in economic, political and security issues at a time when the world needs closer cooperation: the US on our paradigm for peace in Mindanao using both soft and hard power, China on our Comprehensive Economic Cooperation, Japan and Brunei on the international team monitoring the ceasefire in Mindanao, Malaysia on our peace process with the MILF, Indonesia and New Zealand on our joint projects against the avian flu.

At the Summit meetings we saw greater regional economic integration made possible with all twenty-one APEC economies agreeing to pursue the path of trade liberalization and a declaration on how the APEC can work together to address the global challenges of climate change through the UN renewed framework for cooperation.

We embrace sustainable development. We have move forward with an aggressive effort to create a Green Philippines, including reducing reliance on fossil fuels with our biofuels, wind and solar efforts and geothermal programs.

We take this opportunity of being in Davao City, the regional center near the geothermal field of Mount Apo, to sign an Executive Order to launch GIGA - G - I - G - A - Generating Investments in Geothermal Areas.

Kining E.O. usa ka dakong hakbang aron mopaspas pa ang pag-usbaw sa mga lunsod nga du-ol sa mga geothermal sites sa PNOC (Philippine National Oil Company).

Kining E.O. gahangyo sa mga local nga pamunuan o LGUs nga magpatindog ug economic zones sa mga lungsod na malapit sa mga planta ng enerhiya ng PNOC, aron labaw pa silang maka-bentaha sa ilahang royalties nga ginagamit nila sa pag-subsidize sa electric bill sa ilahang mga konstituwente.

The acronym GIGA connotes bigness, which describes our geothermal fields as well as the potential in incubating businesses near them. What should lure investors to set up shop near geothermal plants is the same reason that led government to put in billions (of pesos) to build them; the availability of cheap and clean energy. It will be cheap because in these areas local governments have large bank accounts from geothermal project royalties that they use to subsidize the electric bill of their constituents.

But geothermal plants need not to only transform steam to power. They can also be harnessed to channel steam to jobs. We can do this by convincing investors to take advantage of cheap power in communities hosting geothermal plants. Cheap power by itself is already a powerful draw but we will make it more irresistable by throwing in other fiscal incentives which an ecozone is allowed to grant. Thus if we build them, they will come. The synergy of geothermal power and ecozones will power up progress.

So to the host communities, I urge you: full steam ahead. (OPS/PIA) [top]

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