Tycoon Ramon S. Ang expressed hopes for the eventual resolution of a territorial row in the resource-rich West Philippine Sea.
“We should concentrate on developing [resources there] in the future,” Ang told reporters on the sidelines of the Philippine Economic Briefing in Manila on Monday.
In a rare public comment addressed to the panel of speakers, who included Finance Secretary Ralph Recto, Ang urged the Philippine government to “not let go” of its claims
“We should protect our territory,” said Ang, who underscored that how oil-producing neighbors in Southeast Asia pass on savings to consumers.
Ang’s comments echoed those recently made by tycoon Manuel V. Pangilinan, who also backed the present administration firm stance against growing aggressing from China.
“China should be more statesmanlike. We’re not a threat to them,” Pangilinan said last April.
Ang and Pangilinan have struck a close friendship over the past year, which was reinforced business alliances from energy to their ongoing toll road merger.
Ang said on Monday he has no interest to invest in Pangilinan-led energy business PXP Energy Corp.
PXP operates the SC 72 project in the Recto Bank area and the SC 75 project in Palawan, both of which were placed under force majeure by the DOE due to their locations in disputed waters.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
