Issue of May 8, 2022
     
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New law to propel electric vehicle industry in PHL
by Press release

The Department of Trade and Industry welcomes the enactment of Republic Act 11697 or the Electric Vehicle Industry Development Act (Evida), which provides for a national policy framework to develop the electric vehicle (EV) industry in the Philippines.

Trade Sec. Ramon M. Lopez expressed his gratitude to President Rodrigo Duterte and the lawmakers for the passage of the legislation.

“With Evida, the Philippines is now in a stronger position to further attract hi-tech investments and create high-value jobs in the country by taking advantage of the ongoing global shift to EVs through strong national policy support,” he said.

Lopez also considers this measure a move towards lessening direct usage of oil products in transport, thus, signifying reducing air and noise pollution in urban areas.

This will also reduce the transportation sector’s direct dependence on oil, especially amidst rising fuel prices affecting both businesses and consumers.

Evida aims to promote innovation in the field of clean energy and sustainable transportation while developing a sunrise industry in the country and generating more employment.

It sets clear policy directions for the government to raise EV awareness, streamline regulations, boost local demand that should attract EV production, and build a robust EV charging infrastructure.

It also mandates the crafting of a comprehensive roadmap for the EV industry, which will be a national development plan for the EV industry to accelerate the development, commercialization, and utilization of EVs.

Evida will also serve as a blueprint for a comprehensive and coordinated policy direction among national government agencies in terms of promoting EV to ensure investors’ confidence and attract EV-related investments.

The Board of Investments is tasked to craft an Electric Vehicle Incentive Strategy similar to the Comprehensive Automotive Resurgence Strategy Program, which shall provide fiscal and non-fiscal incentives to narrow the production cost gap between EVs and traditional vehicles and achieve local EV production targets by 2030.

DTI Competitiveness and Innovation Group Usec. Rafaelita Aldaba emphasized the importance of Evida for the Philippines amidst the rising competition in ASEAN to attract EV manufacturing investments.

 
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BSP hits 2021 target on digital economy
   
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BOC posts P10 B surplus
   
DA urges farmers to follow seeding rate to save on costs
   
Financing options enhance competitiveness of MSMEs
   
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BUSINESS
Ukraine urges PH firms to stop doing business with Russia

Low agri output of CAR in ‘21 due to ASF, crop damage

DTI warns business owners price tagging is mandatory

25 PDLs in MP complete TESDA construction painting training

BSP hits 2021 target on digital economy

CAR unemployment down to 5.4% in 2020

BOC posts P10 B surplus

DA urges farmers to follow seeding rate to save on costs

Financing options enhance competitiveness of MSMEs

6,000 farmers, fisherfolk in Benguet receive P5,000 aid

DOST says PHL should pursue developing high value products

Palace says more people have jobs this year than in 2021

Expanded Golden Rice seed prod’n begins

NEDA hosts for a on PCA

Countryside dev’t to help spur tourism



Baguio Country Club
Congressman Eric Yap
Department of Agriculture – CAR
Department of Health – CAR
Department of Human Settlements and Urban Development
Department of Labor and Employment – CAR
Gov. Melchor Daguines Diclas, MD
National Grid Corporation of the Philippines
Pines City Colleges
Sangguniang Panlalawigan
Sangguniang Panlungsod
SiTEL
SM
The Department of Transportation – Land Transportation Office CAR
The Manor

Amare La Cucina
Baguio Center Mall
Baguio Water District
Benguet Electric Cooperative, Inc.
Benjamin CID Educational Supply
Bruno’s Restaurant
Bureau of Aquatic Resources – CAR
C & Triple A Supermart
Congressman Mark Go and Sol Go
Department of Environment and Natural Resources – CAR
Mayor Benjamin B. Magalong
Mayor Romeo K. Salda
MV Alabanza Longganisa
Overseas Worker Welfare Administration – CAR
Philex Mining Corporation
Regional Development Council – CAR National Economic and Development Authrority – CAR

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