A CHINESE business delegation is exploring investment opportunities in the Philippine electric vehicle (EV) and renewable energy (RE) industries, the Board of Investments (BoI) said.
In a statement on Wednesday, the investment promotion agency said that it met with the Chinese delegation, which included executives from manufacturers of EVs, solar power systems, and smart manufacturing products.
“The Chinese companies presented their project portfolios and expressed initial interest in potential ventures in the Philippines,” it added.
BoI Executive Director Evariste M. Cagatan said Philippine policies make it a viable investment destination for RE and EV companies.
These include the Electric Vehicle Industry Development Act, the proposed EV Incentive Strategy, and the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act.
“The meeting is part of the BoI’s ongoing efforts to attract sustainable, innovation-driven investments and support the country’s clean energy transition,” it said. — Justine Irish D. Tabile