THE Department of Energy (DoE) and the Philippine Economic Zone Authority (PEZA) have agreed to hasten the development of regional economic zones by coming up with measures that will ease doing business in the country, including cheaper power rates.

In a statement over the weekend, DoE Secretary Alfonso G. Cusi said a memorandum of understanding (MoU) was signed by the two government agencies that gives assurance to ecozones of “a reliable and reasonably-priced supply of electricity.”

“Energy policies will be developed to facilitate the reduction of the cost of doing business in the country, including the ecozones,” he said.

Mr. Cusi said the memorandum is an “initiative consistent with the long-term economic vision of President Rodrigo Duterte known as ‘Ambisyon 2040’ and complements his 10-point socioeconomic agenda.”

“Ambisyon 2040” is the government’s 25-year vision for the Philippines as embodied in an executive order signed by the President in October last year.

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