Good afternoon ladies and gentlemen.

I am Hubert d’Aboville, president of Paris-Manila Technology Corp. and the European Chamber of Commerce of the Philippines. In both capacities I am promoting closer business ties between Europe and the Philippines, particularly in the energy sector and exploring ways to promote the country’s economic development.

Allow me to quote former Energy Secretary Vince Perez: "The most expensive power is the power you don't have; and the present Energy Secretary Rene Almendras: "The cheapest power is the power you don't use through energy efficiency -- we can save 20%." And let me add: The lowest price is not always the best price: energy investment is for the long-term.

The Philippines possesses vast business opportunities that can make the lives of Filipinos better and move the country forward but these opportunities must be made accessible to investors to translate them to economic realities.

Having been a resident of the Philippines for more than 30 years now, I consider myself privileged to have made some good contributions in the field of energy as a businessman.

I firmly believe that opportunities exist for more investors but we need to work harder in this country to take hold of these opportunities.  It is obvious that there are plenty of issues and challenges but we also have plenty of opportunities now.  ECCP is working closely with the present Administration to make significant changes towards creating fair market conditions and to making it easier to do business in the Philippines.

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