NextGen Day

MANILA – Secretary of the Department of Trade and Industry (DTI) Ramon Lopez met with officials from a US-based battery technology firm and an independent tower company (ITC) to explore their investment ambitions in the Philippines.

During a high-level diplomatic event for government officials and business executives in Washington, D.C. last week, Lopez said DTI officials, together with Defense Secretary Delfin Lorenzana, met with ZAF Energy Systems and Battery Grade Materials, Inc. (BGM).

Lopez advised ZAF CEO Randy Moore that the firm’s and its associate company, BGM’s, planned investment could qualify for Tier II under the projected 2022 Strategic Investment Priority Plan’s industrial value chain gaps (SIPP).

ZAF-BGM is interested in developing a nickel hydroxide processing plant and a battery production facility to meet the need for electric automobiles as well as other commercial and defense-related equipment.

According to the DTI, the projects’ estimated value ranges from USD400 million to USD500 million (PHP21 billion to PHP26 billion) and can create a thousand jobs.

“Instead of selling our minerals as raw ore, we’ve been pursuing companies that can process them.” This will boost the processing of high-value minerals in the Philippines, and it is in line with President (Rodrigo) Duterte’s aspirations to attract more investment, Lopez said.

Furthermore, SBA Communications Corp., a provider of wireless communications infrastructure, remains hopeful about expanding its footprint in the Philippines.

In Washington, D.C. last week, SBA Communications senior director (international) Nicholas Van Slyck and senior director (Government and Regulatory Affairs) Maria Alexandra Velez reviewed the company’s expansion plans with Lopez.

SBA created its Passive Telecommunications Towers Infrastructure, a project with pioneer status, with the Board of Investments (BOI) in March 2021.

The corporation is investing PHP10.76 billion in the project, which will employ 353 people and result in the installation of 1,470 tower structures around the country over the next five years.

“At a time when the Philippines is upgrading its digital infrastructure, we applaud SBA’s continuous expansion in the country, which will create more employment while increasing competition, resulting in better and more affordable communications services for the people,” Lopez said.

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