IT is past 7 p.m. on a Tuesday night, and traffic is terrible along McKinley Road. If you are a car enthusiast, this might not be so bad because there is no shortage of luxury cars to ogle while stuck in traffic in Bonifacio Global City (BGC). Lately though, it's as if I've been seeing electric vehicles (EVs) everywhere, and while we can spend a whole day debating whether these cars are really worth buying, I was more curious to learn when car manufacturers started amping up distribution of electric and hybrid cars in the Philippines.
EVs are among the priority sectors of the Board of Investments (BoI), in line with the government's agenda to promote the Philippines as a top investment destination. The BoI plays a key role in ensuring that the Philippines' regulatory environment is conducive to business growth and development. As such, it focuses on projects or activities with significant capital injections to the country, consequential economic impact, positive impact on the environment, complex technical processes and engineering designs, or that which will bring about improvements in the Philippines' infrastructure capabilities.
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