DTI s AI research hub still unfunded in 2024 nat l budget, says exec inquirer.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inquirer.net Daily Mail and Mail on Sunday newspapers.
The government plans to allocate P500 million for a venture fund aimed at co-financing the business expansion of creative enterprises and individuals, according to Trade and Industry Secretary Alfredo Pascual.
The Department of Trade and Industry (DTI) welcomes the enactment of Republic Act 11697, otherwise known as the Electric Vehicle Industry Development Act
MANILA - The Department of Trade and Industry (DTI) welcomes the enactment of Republic Act 11697, otherwise known as the Electric Vehicle Industry Development Act (EVIDA), which provides for a national policy framework to develop the electric vehicle industry in the Philippines. DTI Secretary Ramon Lopez expressed his gratitude to President Rodrigo Duterte and the lawmakers for the passage of this "very significant" legislation. "With EVIDA, the Philippines is now in a stronger position to further attract hi-tech investments and create high-value jobs in the country by taking advantage of the ongoing global shift to EVs through strong national policy support," he said in a statement Sunday. Lopez also considers this measure a move towards lessening direct usage of oil products in transport thus, signifying reducing air and noise pollution in urban areas. This will also reduce the transportation sector's direct dependence on oil, especially amidst rising fuel pri