By Adrian M. Reodique
June 13, 2017
Mitsubishi Motors Philippines Corporation (MMPC) is working with The Philippine Board of Investments (BOI) to create a new incentive programme for local manufacturers of jeepneys and buses.
The programme will be similar to the Comprehensive Automotive Resurgence Strategy (CARS), according to a Philippine Daily Inquirer article yesterday (12 June 2017).
The article quoted Arlan Reyes, senior manager for marketing services of MMPC, saying that his company is already discussing the specifications of the new incentive programme with government representatives.
Last month, the Department of Trade and Industry (DTI) Secretary and BOI Chairman Ramon Lopez said they are eyeing to create a CARS-like programme to incentivise or promote "people movers" or vehicles that can carry multiple passengers, such as minibus or jeepneys, the Philippine Star reported.
The existing CARS programme aims to encourage the local production of motor vehicles and parts by providing the makers with fiscal support. The fiscal support will be given in a Tax Payment Certificate (TPC), which is used to defray the manufacturer's tax and duty obligations to the government.
Reyes said the Truck Manufacturers Association (TMA), which MMPC is a member, has also participated in the talks. He added that a lot of members of TMA are interested to join in the new programme.
"From what I know, this is a different programme and will be separate from the CARS programme," he said. "There are many who are interested because what is important here is we improve our air quality."