Northern Samar 1st District Rep. Paul R. Daza has announced that the implementing rules and regulations (IRR) of the Republic Act 11698, or the “Vintage Vehicle Regulation Act” of 2022, will take effect starting April 2023.
In celebration of this momentous occasion, Daza, along with other vintage car enthusiasts, visited the Presidential Car Museum at the Quezon City Memorial Circle.
The museum has 12 presidential vehicles on display, which have all been restored with the help of the Historical Commission of the Philippines to achieve a “like new” look to preserve the rich history they represent.
RA 11698 was enacted in April 2022. The law allows for the importation, exportation, and registration of vintage vehicles aged 40 years or older from their manufacturing date.
If owners choose to register these vintage vehicles, the Land Transporation Office will grant them a registration valid for three years. Under the new law, owners can also request a special “vintage vehicle” plate for the car.
Aside from the previously mentioned, the Vintage Vehicle Regulation Act will further develop the vintage car restoration industry in the Philippines.
Other salient points of the law include:
Daza has also stated that many talented car restores in the Philippines would benefit from the new law.
“Lessening their burdens to import vintage vehicles and parts will help them tap more international clients and expose the craftsmanship of the Filipino to the world,” he added.
“Vintage vehicles are not mere ‘toys.’ Of course, they are sources of pride and enjoyment. However, it is important to optimize the potential economic opportunities that they can create while preserving the country’s heritage in its motoring history,” Daza continued.
With this new law in place, we could soon see more vintage vehicles enter the Philippine market, sparking economic development within this car market segment.
What do you think about the new law? Would you like to see more immaculately restored classics plying our roads?