President Rodrigo Duterte recently expressed his gratitude to Phoenix Petroleum Philippines, Inc. for its corporate social responsibility programs.
In his speech at the 10th listing anniversary of the company held at the PSE Plaza in Makati City, the President noted that as former mayor of Davao City, he personally witnessed how it succeeded from a single gasoline station in the city into one of the fastest-growing oil companies in the country.
“I am also grateful that you continue to share your successes for spearheading socio-civic programs for the benefit of local communities,” Duterte said.
He said the government for its part is trying its best to create an environment conducive to investment and establish a harmonious working relationship with investors.
“As a result, any new player in the downstream oil industry --- in fact, in any industry --- can make it big and succeed,” he added.
In addition, the Chief Executive said his administration will continue to institute reforms and implement policies for economic growth to become more sustainable.
“This is part of our mission of reassuring shareholders that we do business here in the Philippines with ease,” he said.
The President hopes that the inspiring story of Phoenix Petroleum will encourage other companies to invest in the Philippine Stock Exchange, especially aspiring businessmen.
Phoenix Petroleum, the first company from Davao City to join PSE, held its initial public offering on July 11, 2007. It is the first oil company to go public after the passage of the Oil Deregulation Law in 2008.