DTI pitches for e-vehicle investments – The Manila Times

THE Department of Trade and Industry (DTI), together with partners from the private sector, recently encouraged Chinese electric vehicle (EV) companies to invest in the Philippines in the light of the recent passage of the Electric Vehicle Industry Development Act (Evida), which paves the way for further government support for the development of this strategic investment priority sector.
“The Philippine market is growing and will grow even bigger as the adaptation of EVs is expected to accelerate with the passage of Republic Act 11697, otherwise known as the “Evida,” in May 2022, which provides for a national policy framework to develop the electric vehicle industry in the Philippines,” DTI Foreign Trade Service Corps Assistant Secretary Glenn Peñaranda said in his opening address to the attendees of the 2022 International Summit on Lithium Battery Technology and Application for Light Electric Vehicles.
Additionally, he said there will be many investment opportunities in the Philippines due to this law, especially in creating high-value jobs.
“With Evida's passage, the Philippines will be crafting a Comprehensive Roadmap for the Electric Vehicle Industry, which will be a national development plan for the EV industry to accelerate the development, commercialization and utilization of EVs and the Electric Vehicle Incentive Strategy,” Peñaranda said.
Meanwhile, Philippine Trade and Investment Center in Guangzhou (PTIC-Guangzhou) Vice Consul Froilan Emil Pamintuan mentioned in his presentation that some of the public utility vehicle modernization programs are already in place in the Philippines, as well as its respective incentives in green ecosystems under Tier 2 of the Strategic Investment Priority Plan.
The following investments qualify for those incentives: activities that include assembly of EVs; manufacture of parts and components; establishment and operation of EV infrastructure such as charging stations, renewable energy, energy efficiency and conservation projects; and energy storage and integrated waste management, disposal and recycling.
Edmund Araga, president of Electric Vehicle Association of the Philippines, also delivered a message during the two-day BLEV 2022 event, while PTIC-Guangzhou Senior Trade and Investment consultant Allan Liu also joined the Asean (Association of Southeast Asian Nations) panel discussion, which included representatives from Malaysia and Thailand.


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