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Manila Bulletin devider Business devider US vows grant for PH nickel ore processing -- DTI

US vows grant for PH nickel ore processing -- DTI

Published Sep 15, 2022 04:38 pm

The US government will extend a grant for the Philippines’ nickel ore processing for the manufacture of batteries through a partnership with an American firm, according to the Department of Trade and Industry.

The Philippines through the DTI participated in the Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial Meeting on Sept. 2 in Los Angeles, and highlighted more investment opportunities in processing of green metals such as nickel, cobalt, and copper, as well as funding for other non-fossil-based energy sources in the country.

In a statement, DTI said the US will soon announce another grant to the Philippines involving the processing of nickel ore through a partnership with an American company that owns patents in the manufacture of batteries.

“The US firm supplies US military and critical industries including hyperscaler data centers, renewable energy projects, and long-haul trucking companies,” DTI said in a statement without identifying the American firm.

The soon to be announced grant is on top of the grant for the conduct of feasibility study on the Philippines’ first off-shore wind farm committed during US Secretary of State Antony Blinken visit last month, August. The first grant was cited as indicative of US vision for the IPEF.

During a conference call with United States Commerce Secretary Gina Raimondo ahead of the ministerial meeting, DTI Secretary Alfredo E. Pascual pitched investments that would increase the country’s participation in value chains of high-value critical products. Pascual thanked Raimondo for facilitating recent US Trade and Development Agency (TDA) grants, which he noted can be replicated and expanded through the IPEF.

At the IPEF Ministerial Meeting, the Philippines also noted the discussions during the conference call with Raimondo on the absence of a market access component at this time. Given that legislations and policy measures restrict market access, the US can consider IPEF as an avenue to provide preferential treatment or equitable access to trade for partner countries.

This can be done in the form of grants, subsidies, or procurement opportunities that support or complement industry development initiatives of developing partner countries in the IPEF. By pursuing and utilizing mechanisms such as these, partners are further incentivized toward working collectively to build and sustain robust investment environments that contribute to increased economic opportunities and competitiveness in the Indo-Pacific.

Apart from India and the US, IPEF partners include Australia, Brunei, Fiji, Indonesia, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam.

Together with other IPEF partners, the Philippines endorsed the ministerial statements on Trade, Supply Chains, Clean Economy, and Fair Economy upon conclusion of the first official in-person Ministerial Meeting on 09 September 2022.

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