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December 28th, 2013 02:15 PM #1
Hi jpdm... How's everything? Happy New Year!!!
Good news for auto parts maker means good for economy.
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January 6th, 2014 10:37 AM #2
Happy New year oca!
Admittedly, uls is correct. Ive been posting press releases coming from DTI, parts makers and other auto players and yet nothing has happened so far. Its already 2014 and the auto program called MVDP of Arroyo is now known as auto road map under Aquino is still on the drawing board.
Puro planning na lang..
Anyway, I will just hope na lang.:old:
Last edited by jpdm; January 6th, 2014 at 10:40 AM.
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January 6th, 2014 08:11 PM #3
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April 13th, 2014 05:34 PM #4
Hintayin nila Nognog's roadmap...Since start ng election fever na next year, I doubt the auto industry will be on the administration's mind...
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June 2nd, 2015 03:17 PM #5
Palace approves new auto industry program
by Catherine Pillas
June 1, 2015
Malacañang has approved the much-awaited Comprehensive Automotive Resurgence Strategy (CARS) Program, which will provide the local auto industry a total of $600 million worth of incentives over a six-year span.
The program seeks to ramp up the competitiveness of the local auto industry amid the Asean integration and attract P27 billion worth of vehicle-manufacturing investments into the Philippines.
“The program is designed to build and grow the parts-making capability of the auto industry, for without a robust parts-making industry, our carmaking industry will remain uncompetitive. The CARS Program is about building capabilities and jobs to make our automotive manufacturing industry competitive in the Asean,” Trade Secretary Gregory L. Domingo said in the statement.
The program will stimulate economic activity estimated at P300 billion over the six-year period starting 2016. The resulting contribution to gross domestic product (GDP) is estimated at about 1.7 percent.
The annual dole-out of $100 million, or an average of P4.5 billion yearly from 2016 to 2021, will be used to support three vehicle models. This is also expected to attract more than P27 billion in new parts-manufacturing investments and allow the local production of at least 600,000 vehicles.
The $600 million will be sourced from the national budget. According to Trade Undersecretary and Board of Investments (BOI) Managing Head Adrian S. Cristobal Jr., the amount can still be added in the 2016 national budget as deliberations in Congress for the new budget bill have yet to start.
The CARS Program, an initiative of the Department of Trade and Industry (DTI) through the BOI, calls for the grant of fiscal and nonfiscal incentives to the automotive industry to entice manufacturers to initiate more operations in the country.
Last edited by jpdm; June 2nd, 2015 at 03:21 PM.
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June 2nd, 2015 03:38 PM #6
^
Well this is good news.
Hopefully the terms would be attractive enough for investors to establish production sites in the country.
Filipinos badly needed these additional jobs! ! !
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June 2nd, 2015 05:04 PM #7
Not sure if there is enough time to get that program off the ground. There is no gurantee there'll be continuity with the next adminstration come next year...
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June 2nd, 2015 05:13 PM #8
Also, 3 cars lang ang supported. I guess it will be the vios, avanza and innova.
O baka makasingit L300. hehehe
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June 23rd, 2015 09:20 PM #9
I'm also dreaming of the day when jeepneys and tricycles eventually become extinct. But then it's a socio-economic problem that legislation to phase them out just would not work.
As expected, in response to Tesla’s entry into the Philippines market, Ford will be bringing in the...
Tesla Philippines