STAKEHOLDERS see Republic Act No. 11592 or the bill regulating the liquefied petroleum gas (LPG) industry helping economic growth in the country through improved competition and raising safety standards across the board.
The law is an effective guide for the increase of confidence and protection among financial institutions; investors; and micro, small and medium enterprises entering the industry, according to Republic Gas Corp. president Arnel Ty.
“Because of the law, the Department of Energy (DOE) is committed to ensuring an organized and fair business environment for legitimate industry players,” said Ty after the first LPG Industry Summit in Pasay City recently.
He added, “Banks and financial institutions here have provided programs that give loans even without collateral with a low-interest rate. They see the law as a protection that will allow them to provide loan programs that offer easy access for the industry.”
On March 2 and 3, industry stakeholders and officials from the DOE and Department of Trade and Industry (DTI) gathered for the first nationwide summit of LPG dealers and other industry leaders at the SMX Convention Center.
The summit was organized to engage LPG industry dealers, DTI, and DOE in promoting the importance of the LPG Law and the Consumer Protection Act.
It likewise aimed to provide attendees with the opportunity to network with industry experts, policymakers, and key stakeholders to gain valuable insights on how to improve their business operations. (GMA Integrated News)
