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The Department of Trade and Industry is eyeing ecozones for electric vehicle, parts manufacturing
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The plan to concentrate all e-vehicle manufacturing activities within ecozones will cut logistics costs, according to a trade official
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The plan is a key component of DTI’s Electric Vehicle Incentives Scheme designed to boost local production of EVs, parts and components
The Department of Trade and Industry (DTI) is eyeing ecozones for electric vehicle (EVs) and parts manufacturing.
Trade Undersecretary Rafaelita Aldaba disclosed the plan to concentrate all e-vehicle manufacturing activities within economic zones and industrial parks to cut logistics costs, making EVs more price-competitive with gas-powered vehicles and internal combustion engines.
“It is good to have one cluster within an ecozone… We can highlight that we have this EV cluster in the country,” Aldaba said in a statement made during the recent 11th Philippine Electric Vehicle Summit.
The DTI’s initiative is a key component of its Electric Vehicle Incentives Scheme (EVIS), designed to boost local production, targeting four million e-vehicles, including raw materials, parts, and components.
Aldaba added the DTI would coordinate the initiative with the Philippine Economic Zone Authority (PEZA).
Companies and manufacturers are encouraged to establish their projects within ecozones, following PEZA’s endorsement, as they provide a “one-stop-shop” service to investors to minimize delays and cut red tape.
“Incentives could provide an attraction for us to encourage more developers and manufacturers in the country,” Aldaba added.
Companies within ecozones enjoy fiscal and non-fiscal incentives under the Corporate Recovery and Tax Incentives for Enterprises law, depending on their activities and economic impact.
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