Latest News |
Henan Jiyuan I&S orders Danieli EWR to upgrade its bar mill 03 August 2020 |
INTERVIEW: JSPL's steel export thrust to taper amid Indian market recovery 03 August 2020 |
New slab grinder plant operating at Posco Pohang, Korea 03 August 2020 |
China July steel PMI slipped marginally to 49.2% 03 August 2020 |
CIS billet exports slow, but prices yet higher 03 August 2020 |
![]() |
![]() |
![]() |
![]() |
Automotive investments in Philippines may hit P100b by 2010
The Philippines automotive industry is looking at a total investment of P100 billion by 2010 with the implementation of the proposed Market Expansion Program, which aims to promote the
Elizabeth Lee, president of the Chamber of Automotive Manufacturers of the Philippines Inc., said yesterday that industry investment hit P91 billion as of end-2006.
"With the MEP, it is possible that total investments of the industry would hit P100 billion by 2010. We want the
The MEP was expected to bring in additional investments and put the
"I can't say how much more [in additional investments] but there will definitely be more [for CKD assembly]," said Lee.
Around P30 billion of the total investments in the industry so far were poured into local assembly operations, or completely knocked down vehicles.
Campi and the Board of Investments are crafting the guidelines and the implementing rules and regulations of the proposed MEP under the Motor Vehicle Development Program.
The draft could be finalized in October and implemented through the issuance of an Executive Order from Malaca?ang. The government is firming up the fiscal and non-fiscal incentives that participants will enjoy under the program.
The program is designed to encourage original equipment manufacturers like car makers to choose the
"The auto industry is the only viable domestic manufacturing industry since it has a long value chain. There are about 17,000 moving parts in one vehicle alone. We want to veer away from mere importation," said Lee.
Manila Standard Today, August 10, 2007