The Chamber of Automotive Manufacturers in the Philippines, Inc. (CAMPI) signified its "renewed and stronger hope in a brighter future for the auto industry" following President Benigno Aquino III's State of the Nation Address on July 26.
"He is a catalyst for change," CAMPI president Elizabeth Lee said. "The President sends a clear signal moving forward."
The Philippine automotive industry grew 37.1 percent in the first half of the year and things are looking up with the "commitments" of the new administration. Here are some key points CAMPI noted in a statement which spell a "better future" for the local auto industry:
1. Public-private partnerships to accelerate much-needed expansion in infrastructure
2. The clear objective to boost tourism, agriculture, orderly road networks, among others which, in turn, will create a larger need for vehicles to serve the growing needs of businesses
3. The President's call for job creation as foremost on his agenda where job creation will come from the growth of [domestic] industries
4. More efficient BOT (build-operate-transfer) projects
5. Shorter lead time and turnaround with regard to documents/business applications
6. Growth in small and medium enterprises
"With expected significant growth in global demand, the Philippines can have a greater chance of being a regional player using underutilized assembly operations to serve both domestic and export needs," Lee said.
She added, however, that the automotive industry is hoping for strict implementation of the laws aimed at creating a business-friendly environment in the Philippines. This also applies to CAMPI's war versus smuggled vehicles to protect official distributors and local manufacturers.
"Without strict implementation, it will continue to hamper and stunt our Philippine auto industry's great potential, particularly domestic market expansion, a standard basis used to escalate investments to serve both local and export needs," Lee said.