Close  
  • share this

DTI readies perks for key sectors

By: - Reporter / @amyremoINQ
/ 12:09 AM March 07, 2016

THE DEPARTMENT of Trade and Industry is preparing incentive packages aimed at accelerating the growth of high-impact industries like shipbuilding and aerospace.

Such packages will likely be similar to the Comprehensive Automotive Resurgence Strategy (CARS) program, under which P27 billion in incentives were made available to qualified assemblers to boost the automotive and parts manufacturing industries, explained Trade Secretary Adrian S. Cristobal Jr.

ADVERTISEMENT

Under Executive Order 182, the CARS program will provide fiscal and non-fiscal incentives for assemblers that can produce 200,000 units of a single model over a six-year period.

If successful, the CARS program is expected to attract more than P27 billion in new parts manufacturing investments; produce at least 600,000 vehicles; generate some 200,000 new jobs; and generate a total economic activity estimated to be worth P300 billion. The resulting contribution to gross domestic product was estimated at about 1.7 percent.

FEATURED STORIES

In an interview with the Inquirer, Cristobal said the DTI was looking at other sectors that may warrant a similar incentive program, including shipbuilding and aerospace.

Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, Comprehensive Automotive Resurgence Strategy, Department of Trade and Industry, economy, News
For feedback, complaints, or inquiries, contact us.
newsinfo

Israel, US test ballistic missile interceptor

January 23, 2019 07:53 AM

newsinfo

Top court allows Trump transgender troop ban

January 23, 2019 07:28 AM

globalnation

PH may appeal US ban on work visas

January 23, 2019 07:25 AM

newsinfo

Ratification of Bangsamoro law seen

January 23, 2019 07:24 AM




© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.