Renewed and stronger hope in a brighter future for industry
"He is a catalyst for change. His firm stand against all forms of corruption resonates with the auto industry particularly with regard to smuggling. The President sends a clear signal moving forward. This is important. His commitment is essential and key, particularly to investors," says Ms. Elizabeth H. Lee, CAMPI President.
Although government in general has made positive inroads through the years, accelerated growth for the auto industry can only come with the strict implementation of the prohibition on imported used vehicles.
"Without the strict implementation, it will continue to hamper and stunt our Philippine auto industry's great potential, particularly domestic market expansion, a standard basis used to escalate investments to serve both local and export needs," says Ms. Lee.
Domestic market expansion will likewise result in the immediate creation and expansion of jobs in the industry to include ancillary industries down the value chain.
Among the key points mentioned by the President that shows a better future for the auto industry include:
- Public- private partnerships to accelerate the much needed expansion in infrastructure.
- The clear objective to boost tourism, agriculture, orderly road networks, among others, which in turn will create a larger need for vehicles to serve the growing needs of businesses.
- The President's call for job creation as foremost on his agenda where job creation will come from the growth of [domestic] industries.
- More efficient BOT projects.
- Shorter lead time and turnaround with regard to documents/ business applications
- Growth in Small and Medium Enterprises
"The timing could not have been better. With expected significant growth in global demand, the Philippines can have a greater chance of being a regional player using underutilized assembly operations to serve both domestic and export needs. The President's agenda, objective and vision can play a key role in investors' confidence, making the Philippines a relevant alternative choice for business expansion," says Ms. Lee.