Motorcycle maker seeks BOI perks

MANILA, Philippines - Electric vehicle maker Phil-Etro EV, Inc. is applying for incentives with the Board of Investments (BOI) for the production of electric motorcycles.

“Notice is hereby given that Phil-Etro EV, Inc. is applying for registration with the BOI as a new producer of electric motorcycles...on a pioneer status,” the BOI said in a published notice.

The application is for a project located in the People’s Technology Complex - Special Economic Zone in Carmona, Cavite.

The project involves the production of 10,000 units of electric motorcycles per year.

Phil-Etro would be exempt from payment of income tax holidays for six years for the project if its application would be approved by the BOI.

The firm would also be able to import capital equipment at zero tariff and enjoy non-fiscal perks.

The government is offering incentives to firms that invest in activities identified in the 2012 Investment Priorities Plan (IPP).

Incentives are being given to encourage investments in sectors that are seen to generate employment and promote economic growth.

The manufacture or assembly of motor vehicles has been listed as a preferred activity in the IPP.