Department of Trade and Industry (DTI) Secretary Ramon Lopez discussed the potential of the Philippines as a production hub and exporter of vehicles in the ASEAN region with Mitsubishi Motors Corporation (MMC) Chief Executive Officer Osamu Masuko.
DTI has requested MMC to start producing car models for export as the agency is promoting an export program for locally manufactured vehicles in order to tap a larger market for the country’s manufacturing base and help address the Philippine’s trade deficit, especially with two ASEAN vehicle exporters—Indonesia and Thailand.
“The intention is to produce specific models that will be exported to our neighbors in ASEAN. The good thing here is, as MMC is already present in other ASEAN countries like Thailand and Indonesia, they are planning to make certain countries as production hub for certain models, which will serve their respective domestic and export markets,” said Lopez.
“The intention is to produce specific models that will be exported to our neighbors in ASEAN.”
At present, Mitsubishi Motors Philippines Corporation (MMPC) produces the Mirage/G4 under the government’s Comprehensive Automotive Resurgence Strategy (CARS) program which aims to attract investments, stimulate demand, develop a vibrant local auto parts supplier base, and implement industry regulations that will revitalize the country’s automotive industry to turn it into a regional automotive manufacturing hub.
Masuko relayed MMC’s plans to produce more units of the Mirage/G4 and L300 models in the Philippines and to start export of these models to the ASEAN market by 2019. He also mentioned their intention to collaborate with the Philippine government in the development of the electric vehicle industry in the Philippines.
“We keep saying that building an export manufacturing base is the way to go. It is also a good import substitution strategy. Through this initiative, we will address the trade imbalance and provide more jobs to our countrymen,” said Lopez as he expressed optimism on the vehicle export program with MMC.
“Building an export manufacturing base is the way to go. It is also a good import substitution strategy.”
