Statement of NEDA Secretary Arsenio M. Balisacan
March 5, 2024

The National Economic and Development Authority (NEDA) and other relevant agencies have initiated discussions on the potential expansion of Executive Order (EO) No. 12 (s. 2023) to cover e-motorcycles and hybrid vehicles. EO 12, which became effective on February 20 last year, temporarily reduced the rates of import duty on certain electric vehicles (EVs) and their parts and components for five (5) years. Pursuant to Section 2 thereof, which provides for the review of the EO after one (1) year of implementation, the Tariff Commission shall be requested to conduct a public hearing for this purpose. The review shall follow the tariff modification process under Section 1608 of the Customs Modernization and Tariff Act, and shall be presented to the Committee on Tariff and Related Matters and the NEDA Board.

The review shall carefully consider all the views and comments of stakeholders, taking into account the current market conditions. The review aims to ensure that we meet the policy objectives of EO 12 by further encouraging the adoption of EVs and fostering the growth of the domestic EV market.

NEDA calls on interested parties to participate in the public hearing and share their insights on the implementation of this crucial policy, which aims to enhance the country’s energy security as we strive for social and economic transformation in the coming years.

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