Fresh Investments from Parts Makers Expected, as CARS Program Goes Full Blast

The Board of Investments expects new investments from car parts makers to significantly grow with the start of the Comprehensive Automotive Resurgence Strategy (CARS) program. About P1.6 billion in fresh investments are expected from parts makers to support the investments of Mitsubishi Motors and Toyota Motor Philippines. The two will initially be investing P7.5 billion to produce their respective enrolled models. These will create some 14,000 new jobs, with salaries and wages amounting to at least P18 billion…

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