Delay in MVDP rules won't discourage automotive investments in RP - council
MANILA, Philippines - The delay in the implementation of the Comprehensive Motor Vehicle Development Plan (CMVDP) will not discourage auto companies from investing further in the country, local automotive manufacturers said.
“This (delay) will not discourage investors,” Philippine Automotive Competitiveness Council Inc. executive director Benjamin Sevilla said in a telephone interview. “We are not losing investors because of the delay.”
The Board of Investments (BOI) has already said that they will not be able to meet the second deadline that they have set due to a heavy workload. The third target was for October.
“The process may well be concluded in October and the industry is appreciative of the progress that the BOI has been making,” Sevilla said.
Sevilla said he is not aware if the public consultation has already been scheduled. A public hearing is necessary before the IRR can be implemented.
Earlier, BOI Managing Head Cristino L. Panlilio said that the government and the private sector must work together to push the local car manufacturing because the industry’s manufacturing plants are operating at 60 percent below capacity.
Panlilio has been pushing for the creation of a supplement to the MVDP. Panlilio has earlier said that he would like to make an MVDP which will cater specifically to exporters.
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