BusinessMirror |
The Board of Investments (BOI) said on Tuesday it has approved the application of Toyota Motors Philippines Corp. and Mitsubishi Motor Philippines Corp. for incentives under the government’s P27-billion manufacturing stimulus program.
Outgoing Trade Secretary Adrian S. Cristobal Jr. affirmed the eligibility of the two auto companies under the Comprehensive Automotive Resurgence Strategy (CARS) Program in a news briefing on Tuesday.
“It’s just a matter of formalities now. I understand from BOI Managing Head, Trade Undersecretary Perry Rodolfo that it’s just a matter of granting the certificate of award to car manufacturers that have qualified for the CARS Program,” Cristobal told reporters.
The CARS Program is a government stimulus program aimed at boosting the country’s manufacturing sector by specifically targeting the automotive industry.
Source: http://www.businessmirror.com.ph/toyota-mitsubishi-qualify-for-p27-billion-cars-program/
