“As far as the DOE is concerned, we want to maintain continuity and we want to assure our stakeholders [and] possible investors there will be no major changes in policies of the DOE,” said Garin, who was sworn into office by President Ferdinand Marcos Jr. on July 14, during a press conference on Tuesday.
“[W]e will also continue with the policies that made us successful in attracting all the investors. We will keep that up. We will continue with the policies that are effective,” said Garin, who was DOE officer-in-charge since May.
“We will do away with the policies that are not helpful to the country,” she added.
Garin also noted that investor interest in the resource-rich offshore areas of the Philippines has been limited, amid ongoing tensions in the West Philippine Sea involving China.
But she said there is a high level of foreign direct investment “on the safe side,” estimated at $43 billion (P1.78 trillion).
“These are new contracts. For example, we have a company from Australia, from Israel, from the US, the UAE [United Arab Emirates],” she said without elaborating.
“They’re very interested in the Philippines,” she added.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
