PH vehicle, parts makers want a bigger pie of the Asean market by 2015

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Pulilan, Bulacan—To further boost the Philippine economy and the automotive industry, the vehicle and parts manufacturing sector led by  the Philippine Automotive Competitiveness Council Inc. (PACCI) has sought government help in crafting a strategic expansion plan that will allow it to achieve economies of scale and capture a significant share in the Association of Southeast Asian Nations (Asean) single market starting 2015.

Impact of the industry

In a 2010 study by Cid Terosa of the school of economics of the University of Asia and the Pacific, results showed that a "P1 increase in consumption or investment spending for motor vehicles will result in P3.67 worth of additional output in the economy."

The same study noted that a P100 billion worth of investments in the domestic automotive manufacturing industry could generate at least 169,061 new jobs.

The study further revealed that the output multiplier of Philippine automotive manufacturing industry was greater than that of all the investment priority industries of the Department of Trade and Industry, namely tourism, business process outsourcing and information technology services, electronics, mining, housingand agribusiness.

~Gerald

Buy "trucks you can trust" call/text Sobida Motors Bulacan (0915) 113 5466