Prepare for 3rd wave of motorization in Asean, gov’t urged
PH seen to benefit from this roundBy Amy R. Remo
Philippine Daily Inquirer
The government was urged to start laying down critical measures to prepare the local automotive industry for what Toyota Motor Philippines called the “third wave of high motorization in the Asean” by 2015.
In a statement, TMP president Michinobu Sugata said the company’s bullish forecast was anchored on an outlook that pointed to 2012 as a “turning point for the Philippine automotive industry, with the full recovery from the Japan and Thailand crises expected to happen this year.”
“We are confident that the Philippines will experience motorization beginning 2013,” he added.
Motorization refers to increased demand for mobility that is expected to pave the way for the rise in motor vehicle ownership.
The first and second waves of motorization were captured by Thailand and Indonesia in the previous years, following the recovery from the 1997 Asian financial crisis, Sugata said.
With the expected surge in vehicle demand in the local market, Sugata stressed the crucial role that the government would have to play in the preparation of the automotive industry.
“The Philippine government should urgently and explicitly manifest its policy directions for automotive manufacturing. It also has to immediately implement intervention measures that will improve the cost competitiveness of local suppliers,” he said.
Sugata stressed these points during a meeting earlier between Toyota Group suppliers and Philippine Economic Zone Authority (PEZA) officers led by Director General Lilia De Lima.
The PEZA chief, according to the statement, affirmed her support for the local automotive industry.
“Rest assured that we will always endeavor to provide a conducive business environment to make the Philippines more competitive on a global scale,” she said.
Short URL: http://business.inquirer.net/?p=62633