In a speech in front of businessmen delivered on Wednesday, August 1, Philippine President Rordigo Duterte assured the business community that the government would protect their investments in the country.

 

The President made the assurance at the 30th founding anniversary of Toyota Motor Philippines (TMP) held at the Grand Hyatt Hotel in Taguig City.

 

“Today, I send a message to the rest of the business community: this government will protect your investments and will ensure a level-playing field for you to thrive in as long as you obey the laws of the land and safeguard the welfare of your people and the general public,” Duterte said.

 

He congratulated TMP for being one of the leading pioneers in the country’s automotive industry and thanked them for their contribution to the economy.

 

“Toyota Motor Philippines is not only a leader in the production of quality vehicles. It is also a major driver of our economy, encouraging investments that spur national development,” he said.

 

“It is also a key generator of employment, nurturing the skills and talents of over 55,000 employees,” he added.

 

Duterte likewise noted that TMP has also been the government’s steadfast partner in initiatives such as the Comprehensive Automotive Resurgence Strategy (CARS) program that aims to attract more investments and implement regulations for the improvement of the automotive industy.Along with Mitsubishi Motors Philippines, TMP receives various incentives as it produces around 200,000 uits of the  Toyota Vios (full model change) over a six-year period.  It along with Mitsubishi have recently expanded their  local production capacities. TMP has invested a total of P5.53 billion to bring in new in-house and out-house manufacturing capabilities in the said program, according to the President.

 

Toyota Motor Philippines Corporation was incorporated in August 3, 1988 by the group of Dr. George S.K. Ty, Dr. Shoichiro Toyoda, and Mitsui & Company Ltd. It is the largest automotive company in the country, with the widest vehicle line-up of 17 models and sales distribution and service network composed of 67 dealerships nationwide, including Lexus Manila, Inc. 

As Mayor Of Davao City over 20 years, Duterte saw the steady growth and expansion of the Davao region's economy, attrcting various investments that pushed growth figures up in the last ten years exceeding national GDP. In 2017, the region recorded the second highest regional growth at 10.9% .

(with reports from PNA)

In a speech in front of businessmen delivered on Wednesday, August 1, Philippine President Rordigo Duterte assured the business community that the government would protect their investments in the country.

 

The President made the assurance at the 30th founding anniversary of Toyota Motor Philippines (TMP) held at the Grand Hyatt Hotel in Taguig City.

 

“Today, I send a message to the rest of the business community: this government will protect your investments and will ensure a level-playing field for you to thrive in as long as you obey the laws of the land and safeguard the welfare of your people and the general public,” Duterte said.

 

He congratulated TMP for being one of the leading pioneers in the country’s automotive industry and thanked them for their contribution to the economy.

 

“Toyota Motor Philippines is not only a leader in the production of quality vehicles. It is also a major driver of our economy, encouraging investments that spur national development,” he said.

 

“It is also a key generator of employment, nurturing the skills and talents of over 55,000 employees,” he added.

 

Duterte likewise noted that TMP has also been the government’s steadfast partner in initiatives such as the Comprehensive Automotive Resurgence Strategy (CARS) program that aims to attract more investments and implement regulations for the improvement of the automotive industy.Along with Mitsubishi Motors Philippines, TMP receives various incentives as it produces around 200,000 uits of the  Toyota Vios (full model change) over a six-year period.  It along with Mitsubishi have recently expanded their  local production capacities. TMP has invested a total of P5.53 billion to bring in new in-house and out-house manufacturing capabilities in the said program, according to the President.

 

Toyota Motor Philippines Corporation was incorporated in August 3, 1988 by the group of Dr. George S.K. Ty, Dr. Shoichiro Toyoda, and Mitsui & Company Ltd. It is the largest automotive company in the country, with the widest vehicle line-up of 17 models and sales distribution and service network composed of 67 dealerships nationwide, including Lexus Manila, Inc. 

As Mayor Of Davao City over 20 years, Duterte saw the steady growth and expansion of the Davao region's economy, attrcting various investments that pushed growth figures up in the last ten years exceeding national GDP. In 2017, the region recorded the second highest regional growth at 10.9% .

(with reports from PNA)