The automotive manufacturing industry in Manila is expecting that the CARS (Comprehensive Automotive Resurgence Strategy) program to help position its manufacturing base in ASEAN.
Speaking about the latest development the PACCI (Philippine Automotive Competitiveness Council Inc) said that it is happy to welcome the Executive Order No. 182, which was issued by President Aquino on May 29th.
Feliciano Torres, the chairman of PACCI said that Executive Order No. 182 has come in the best time possible and is expected to greatly benefit the small and medium scale enterprises (SME) development. He also mentioned in the interview that the development of small and medium scale enterprises has become essential for global agenda.
Torres also said, that with increasing number of original equipment manufacturers or OEMs participating in the program, Comprehensive Automotive Resurgence Strategy will get a great boost and will significantly aid the growth of business for automotive part manufacturers. The automotive part manufacturers account for over 90 per cent of the local base of automotive suppliers.
He further said that with participation in the CARS program Manila is expecting to significantly enhance the manufacturing base in the Philippines and enjoy value addition in the process. Moreover, Manila is also expecting to create a considerable employment opportunity in the automotive manufacturing as well as in the other manufacturing-related services. Torres also leads the Yazaki-Torres Manufacturing Inc. as the President of the company.
Comprehensive Automotive Resurgence Strategy Program will give the local companies, industries, and manufacturing units a chance to set up a strong production base in the ASEAN region. Torres said that they will partner with the government in boosting the resurgence of the manufacturing in the automotive sector in the Philippines to ensure an all-encompassing growth of the economy.