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Ramos to target power, foreign capital
MANILA, June I : General Fidel Ramos, who is expected to take over as the next Philippine president at the end of June, plans to kickstart the economy by accelerating power development and attracting fresh overseas investment. reports Reuter.
The former defence chief, who is the front-runner in the severi-cornered presidential race, said he would give priority to solving the country's chronic energy shortage and restoring political stability.
"The economic recovery programme is going to be Intensified," Ramos said in an interview.
President Corazon Aquino had restored democracy after sweeping aside the dictatorship of the late president Ferdinand Marcos. "Now we must attend to the economic empowerment of the people," he declared, cradling his
tradesmark unlit cigar.
If confirmed by Congress as president, the 64-year-old general who was trained at the US military academy West Point, will Inherit a country racked by simmering communist insurgency, threats of a coup by right-wing army rebels and burdened by a 29 billion dollar external debt that has drained the economy.
The first protestant leader of the overwhelmingly Roman Catholic Nation, Ramos said he wanted to restore the Philippines to its rightful place in Southeast Asia and reverse its image as the economic basket case of the region.
"It's unfair to us. But we must do something to improve our image," said Ramos, who proclaimed himself winner of the presidential race on Saturday even though Congress is still counting the votes.
Ramos, who kept Aquino in
power through six coup at tempts, said in the interview with Reuters and Japan s NHK Television that he planned to implement five major programmes of government.
These comprised improved national political stability, acceleration of the power development programme, economic revival, protection of the environment and streamlining the bureaucracy.
The country of 62 million people faces a national emergency because of the energy shortage. He recommended a series of stop-gap ^measures to bridge the energy gap until new generating plants could be brought on stream.
These included leasing or borrowing moveable diesel generating barges that could be plugged into the national grid to cut the electricity shortage that has caused powercuts of up to 12 hours a day
in Manila and surrounding provinces.
Surplus capacity from private generating plants, such as the US Subic Bay naval base, could also be tapped, he said.
The Philippines has a 2.0 billion dollar programme to build new power plants, but this may not fully meet demand until 1994, according to the National Power Corporation.
Ramos, who was Aquino's chosen successor, said he wanted to open up the Philippines further to foreign investment.
A new foreign investment law may need to be further improved by cutting a so-called negative list which bans foreigners from certain key or protected sectors of the economy. Ramos said.