DTI-Toyota partnerhip highlighted
THE Department of Trade and Industry (DTI) emphasized the importance of strong public-private partnerships (PPP) in advancing the country’s automotive industry.
Trade Secretary Alfredo Pascual cited the partnership with Toyota Motor Philippines Corp. (TMP), which he said has strengthened local manufacturing capabilities and enhanced the Philippines’ position in the global supply chain.
“Over the years, the collaboration between the DTI and TMP has been instrumental in advancing the automotive industry in the Philippines. TMP has made significant contributions to the Philippine economy through substantial investments and the creation of high-quality jobs,” Pascual said in a statement on Wednesday.
He said that the collaboration between the DTI and TMP has sustained completely knocked down operations.
The DTI also cited the Comprehensive Automotive Resurgence Strategy program, which has enhanced the nation’s capacity for vehicle production.
“With the integration of transmission manufacturing, Toyota’s Regional Parts Complementation Scheme has also optimized production and firmly positioned the Philippines in the global supply chain,” it said.
Pascual expressed plans to deepen the partnership with TMP by focusing on automotive software innovation, aiming to establish the Philippines as a hub for such technology, adding that this will also transform the digital landscape of transport and logistics.
On Tuesday, he welcomed Masando Hashimoto as the incoming TMP president during the turnover ceremony and expressed his appreciation for outgoing TMP President Atsuhiro Okamoto.
Moreover, the DTI chief reaffirmed its commitment in supporting the automotive industry through strategic policies and incentives to drive economic growth and create quality employment opportunities.
“Through strategic policies and incentives, we are committed to incentivizing investments that generate quality employment opportunities,” said Pascual.
TMP is involved in the domestic production, importation and distribution of motor vehicles, as well as spare parts and accessories.