BOI awards registration certificate to Mitsubishi under CARS Program

BOI awards registration certificate to Mitsubishi under CARS Program

BOI awards registration certificate to Mitsubishi under CARS Program. The Philippine Board of Investments (BoI) awarded today (June 15) the certificate of registration to Mitsubishi Motors Philippines Corporation for the production of 200,000 units of its Mirage/Mirage G4 model under the Comprehensive Automotive Resurgence Strategy (CARS) Program. The CARS Program is anchored on the resurgence of the automotive industry and in priming the country as a regional car manufacturing hub. Signed into law by President Aquino in May 2015 through Executive Order No. 182, the program provides successful car manufacturing company applicants fiscal support for their investments in the manufacture of body shell, large plastic parts, and other strategic parts that are not currently produced locally, and provides variable incentives to induce both volume production and logistics efficiency. Once the 3 Participating Car Makers (PCM) slots are subscribed, and the projects are fully implemented, the 6-year CARS Program is expected to draw P 27 Billion in fresh investments, manufacture 600 thousand more vehicles, add P 300 Billion to the domestic economy – equivalent to 1.7% of GDP – and generate up to 200 thousand direct and indirect jobs in auto manufacturing, parts making, distribution and ancillary services. Photo shows BoI Governor Henry Co (third from left) handing the certificate of registration to Mitsubishi Motors Philippines President and Chief Executive Officer Yoshiaki Kato (second from right). Trade Secretary Adrian Cristobal Jr. (third from right) witnessed the awarding of the certificate. They are joined by (from left to right): Trade Assistant Secretary Rafaelita Aldaba, BoI Governor Lucita Reyes, and Mitsubishi Motors Philippines Executive Vice President Shigeru Ogura.
(Photo by Little Wing Luna/DTI)

PH explores joint venture with India’s Field Fresh, Inc.

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The Philippines, through the Embassy of the Philippines New Delhi Commercial Counsellor Michael Alfred Ignacio met with India’s Field Fresh, Inc. to discuss positive developments involving India-Philippines relations and the ASEAN-India Free Trade Agreement. Field Fresh Inc., is a joint-venture between Del Monte Philippines, Inc. and Bharti, an Indian conglomerate which serves a 1.2 billion market in India aside from those in South Asia and South East Asia. In photo (from left to right): Commercial Counsellor Michael Alfred Ignacio, Field Fresh Inc’s CEO Yogesh Billani and Vice President Sandeep Tewari.

Improving PH Competitiveness through Ease of Doing Business

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Department of Trade and Industry (DTI) Secretary Adrian S. Cristobal Jr. (2nd left) stressed that aggressively pursuing measures and policies to reduce the cost of doing business in the country is an effective strategy to enhance Philippine competitiveness. Joining Secretary Cristobal during the Ease of Doing Business Presscon (L-R): Bureau of Internal Revenue (BIR) Deputy Commissioner Nelson Aspe, National Competitiveness Council (NCC) Co-Chair Guillermo Luz, and Bureau of Customs (BOC) Commissioner Alberto Lina.

EDC identifies programs to facilitate export

EDC identifies programs to facilitate exportEDC identifies programs to facilitate export. The Export Development Council composed of representatives from various government agencies and the private sector recently met to identify programs, activities and projects (PAPs) aligned to the strategies included at the recently approved Philippine Export Development Plan (PEDP) 2015-2017. PEDP was approved by the President through MC 91 last February 4 which directed all relevant agencies to submit to the EDC the aforesaid PAPs within 60 days from the MC issuance. The council adopts a resolution endorsing the identified PAPs to the Office of the President. The meeting chaired by the Trade and Industry Undersecretary and EDC Chair Nora K. Terrado (3rd from right, front seat) was held at the DTI International Bldg., Makati City last April 15, 2016. (Photo by Freddie Empalmado/DTI-PRU).

Indian companies invited to explore strategic opportunities in the Philippines

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Indian companies invited to explore strategic opportunities in the Philippines. The Philippines, through the Department of Trade and Industry’s Philippine Trade and Investment Center (DTI-PTIC) – New Delhi invites industry leaders and major players in the Indian Logistics and Distribution sectors during the National Summit: Logistics India 2016 held last May 44, 2016 in New Delhi, India. Commercial Counsellor Michael Alfred V. Ignacio (included in the photo) of the PTIC-New Delhi discussed potentials of the Philippines as a strategic entry point and logistics hub for Indian merchandise exports for the ASEAN market, particularly opportunities in Subic and Clark Freeport and Special Economic Zones.