THE National Economic and Development Authority (NEDA) Board has approved an executive order (EO) modifying tariffs on electric vehicles (EVs) along with guidelines on the processing of public-private partnership (PPP) proposals, the agency announced on Thursday.

"In its first meeting under the administration of President Ferdinand Marcos Jr., the NEDA Board endorsed the EO modifying tariff rates on certain EVs such as passenger cars, buses, minibuses, vans, trucks, motorcycles, tricycles, scooters and bicycles, among others, including EV parts and components," the NEDA said.

The EO will temporarily reduce most favored nation tariff rates on completely built up EV units, except for hybrid-type vehicles, to zero percent for five years. Tariffs on certain parts and components of EVs will also be cut to 1 percent from 5 percent for five years, to be reviewed after one year of implementation.

"The EO aims to expand market sources and encourage consumers to consider acquiring EVs, improve energy security by reducing dependence on imported fuel and promote the growth of the domestic EV industry ecosystem," the NEDA said.

The approved NEDA guidelines on processing PPP proposals, meanwhile, aim to harmonize NEDA Board and the Investment Coordination Committee (ICC) reviews and approvals, including the preparation and submission by government agencies of projects with the joint evaluation of the NEDA Secretariat, PPP Center and the Department of Finance.

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The guidelines, issued pursuant to Section 2.10 of the Revised 2022 Implementing Rules and Regulations of the Build-Operate-Transfer Law, also include an updated list of documentary requirements for solicited and unsolicited PPP proposals.

Also approved on Thursday were one new official development assistance-funded project and changes to five ongoing projects.

These were identified as:

– The Department of Agriculture-Bureau of Fisheries and Aquatic Resources' Philippine Fisheries and Coastal Resiliency project costing P11.42 billion to improve the management of fishery resources and enhance production values in select fisheries management areas;

– A request by the Department of Transportation (DoTr) for utilization of savings, change in scope and loan validity extension for the Maritime Safety Capability Improvement Project Phase I;

– Another DoTr request for 19-month loan validity extension for the New Communications, Navigation, Surveillance/Air Traffic Management systems development project;

– A Department of Public Works and Highways (DPWH) request for a 12-month extension of the implementation period and loan validity of the Samar Pacific Coastal Road Project;

– A DPWH request for change in scope of works, increase in cost and reallocation of the contingency cost to civil works category for Integrated Disaster Risk Reduction and Climate Change Adaptation Measures in Low-Lying Areas of Pampanga Bay project; and

– A request for change in scope of the Philippine Competition Commission's Capacity Building to Foster Competition Project.