Electric vehicle, RE firms seek gov’t incentives

by Amy R. Remo, December 10, 2014
from Philippine Daily Inquirer

MANILA, Philippines–Companies engaged in electric vehicle manufacturing, energy, real estate and agriculture are hoping to avail of fiscal and non-fiscal incentives offered under the government’s Investment Priorities Plan (IPP).

According to the Board of Investments (BOI), PinoyAko Corp. based in Mandaue City, Cebu is applying for registration as a new domestic producer of electric vehicles on a pioneer status. The company’s facility has an annual capacity of 24 units for electric bicycles (e-bikes) and 24 units for electric tricycles (e-trikes).

Kea Industrial Corp. is similarly seeking perks from the BOI as a new operator of electric vehicle charging stations on a pioneer status. The company is putting up five charging stations in Cavite.

A separate BOI notice showed that Vivant-Malogo Hydropower Inc., a unit of publicly listed Vivant Corp., is also seeking incentives as a renewable energy developer. The company is putting up a 6-megawatt hydroelectric plant in Silay, Negros Oriental—part of a series of power projects it plans to undertake.

Agribusiness firm Farmville Multi Ventures Inc., meanwhile, is applying as a new producer of live chickens (via contract growing scheme) on a nonpioneer status. The farm in Angat, Bulacan has an annual capacity of 1.38 million birds.

Johndorf Ventures Corp., which holds office in Cebu City, will register with the BOI as a new developer of low-cost mass housing project on a nonpioneer status.

On Oct. 28, President Aquino signed the 2014 IPP, which identified the eight preferred sectors eligible to receive incentives over the next three years. These are manufacturing; agribusiness and fishery; services; economic and low-cost housing; hospitals; energy; public infrastructure and logistics; and public private partnership projects.

The list has been described to be a “tool for industrial development and economic growth, and consists of specific economic activities that … are strategic or critical to advance a particular industry or improve a product’s value chain.”

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