THE government is urging businesses to invest in materials-recovery facilities for the impending phaseout of the country’s old iconic jeepneys.
The phaseout is expected to result in scrap materials that could offer an opportunity for upstream industries in scrap recycling, Board of Investments (BoI) Managing Head Ceferino Rodolfo said.
“With the public utility vehicle [PUV] modernization underway, there is a need to address the retirement of aging jeepneys made from repurposed metal,” Rodolfo said.
“There’s still value in those materials because that’s scrap metal. That’s why we need a materials-recovery facility operator,” he said, pointing out that such facilities would also be given incentives under the government’s Investment Priorities Plan.
“It’s good if we can have three facilities, so there can be competition,” Rodolfo said.