AMEM35 to Intensify Cooperation on Energy Resiliency and Sustainability

How should the members of the 10-member Association of Southeast Asian Nations (ASEAN) ensure access to, and adequate supply of, resilient and sustainable energy?

That's the main agenda of the 35th ASEAN Ministers on Energy Meeting (AMEM35) and Associated Meetings hosted by the Department of Energy (DOE) on Sept. 27 to 29.

“We envision dynamic and robust collaboration within ASEAN and dialogue partners as well as relevant international agencies,” said DOE Secretary Alfonso Cusi in describing the upcoming event at Conrad Manila, Pasay City.

With the theme “One ASEAN Community to Resilient and Sustainable Energy,” AMEM 35 will lay the groundwork for enhanced cooperation under the ASEAN Plan of Action for Energy Cooperation (APAEC) ‎‎2016-2025, Phase 1: ‎‎2016-2020, according to Cusi.

APAEC is a series of policy guidelines to implement energy cooperation as part of regional integration towards a globally competitive ASEAN.

A closed-door meeting between the ASEAN energy ministers and CEOs on strategies to address power demand in the region will highlight the ASEAN Energy Business Forum (AEBF) 2017 Conference which will run concurrent with AMEM35.

The series of ministerial meetings under AMEM35 also include the 14th AMEM+3 (China, Japan and Korea), the 11th East-Asia Summit Energy Ministers Meeting (EAS-EMM) and the 1st AMEM-International Renewable Energy Agency (IRENA) Dialogue. 

Concurrent with the AMEM35 is the Powertrends International Exhibition at the SMX Convention Center. 

AMEM and AEBF will jointly open the event in the morning on September 27. The 2017 AEBF Conference will culminate with the closed-door ministers-CEO dialogue late in the afternoon.

AMEM35 is an annual gathering of the Energy Ministers which provides guidance and directions in the development and implementation of key energy sector priority initiatives and work programs in the region consistent with the directives of heads of states/governments of ASEAN.

The Philippines hosted the same meeting in 1997 and in 2004. 

The ASEAN was established to promote economic growth and prosperity in the region.  The member-countries include Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Myanmar, Malaysia, Philippines, Singapore, Thailand and Vietnam.

Damaged Power Infra by Maring and Lannie Almost Fully Operational –DOE

Power infrastructure and facilities in areas affected by typhoons Maring and Lannie will all be back in operation soon, with power already restored in 456 or 57 percent of the affected barangays as of Friday, according to the reports submitted to the Department of Energy (DOE).

Generally, the generation, transmission, the Manila Electric Co. and other affected electric cooperatives franchise areas are already 100 percent operational.

For Quezon Province, electricity was fully restored Thursday night in the town proper of the Municipality of Perez in Alabat Island as it assured the public that total power restoration will be achieved at the soonest possible time with repairmen working round the clock.

According to the National Electrification Administration (NEA), power in 456 out of 804 barangays in Quezon has been restored Thursday afternoon. The 456 barangays account for 104,093 households which is equivalent to 60.16 percent of the entire household serviced by the distribution utility.

NEA is targeting 100 percent restoration of power by September 20 following the detailed assessment and inspection of the typhoon-affected facilities.

DOE Secretary Alfonso G. Cusi emphasized, “We need to ensure that the infrastructures, wirings and meters in the typhoon hit areas are safe before energizing them. We want to protect the people from any harm, including those who are conducting the restoration activities.”

Millennials, Why Is it Better To Own Than To Rent

Global property portal Lamudi’s advice to Filipino millennials: it’s a great time to invest in your own property

Dubbed as the most mobile and transitional generation, millennials are known to be quite averse to staying in one location for long. They are also well-traveled, both for work and leisure. These young professionals can also work just about anywhere: in coffee shops or at the comforts of their own home. Because of the freedom to locate wherever they prefer, renting is perhaps the most suitable option for this age group.

But is it really wise to dedicate a huge part of your monthly paycheck in filling your landlord’s pocket? Global real estate portal Lamudi Philippines shares why investing in property is one of the best ways to build wealth for this young and adventurous generation.

Real Estate for Income

The financial burden of investing in a home is not appealing for people who see themselves moving in the foreseeable future. However, it should be noted that getting in the real estate game does not necessarily equate to settling in the space you just bought.

From an investment perspective, buying a property can provide additional cash flow. If you are leasing a costly apartment each month, you understand the woes of giving away your hard-earned cash to your landlord. However, imagine if the tables were turned and you become the property owner who rakes in passive income every month. Sweet with no sweat, isn’t it?

Purchasing a property is a big investment decision, but for young professionals who have capabilities to acquire a piece of land or condominium, buying will surely reap exciting returns in the years to come. Real estate is a tangible asset that increases in value over time. Aside from the rental income that you can get, you can also enjoy a sizable amount when you decide to sell after the property’s value has increased.

However, if you decide to keep the property and just enjoy the rental income, having a property under your name also means that you are assured of a place of your own should the need arrives. Furthermore, it may also serve as your retirement home when the time comes.

Home You Can Call Your Own

Your very first step to your own welcome-home mat is an overwhelming feeling. This is especially true if you have secured the keys at such a young age. But beyond the fulfillment, obtaining a property while you are young has many advantages.

For buyers who take this step earlier in life, you can avail longer loan durations to keep your monthly amortizations low. At this rate, the amount you are paying for rental fees may be much expensive that your would-be monthly amortization if you invest now.

Home ownership is also a significant indication that you are moving ahead in life. For some it is a status symbol that signals stability and commitment.

As investment is such an empowering achievement, more and more millennials are now exploring home-buying. Because of this, a myriad of newly launched developments now take into consideration the lifestyle of Generation Y. Amenities and facilities are carefully planned to ensure the convenience of young buyers.

The fast take-up of these millennial-focused properties is proof that the young generation now appreciates the value of owning a home. This is more economical rather than allocating a big chunk of salary each month for rent that will never add to any future equity.

Choosing a viable location is important too. For young professionals who work in major central business districts, there are suitable properties in neighboring areas that offer the same convenience but a more competitive price. So instead of renting, you can just invest in a nearby location and walk to work.

Lamudi Housing Fair 2017

To fully appreciate the edge of investing early, millennials are encouraged to head on to the next installment of the Lamudi Housing Fair this year. Slated to happen on October 13–15 at the Megatrade Hall 1 of SM Megamall in Mandaluyong, the event will feature investment experts that will talk about investing for everyone.

The Lamudi Housing Fair will again bring together the biggest developers and the coolest real estate offers in one venue. Freebies, exclusive discounts, and prizes also await attendees.

For more information, visit www.lamudi.com.ph/housing_fair