Private sector gives gov't 30 days to finish IRR for MVDP
By Ma. Elisa P. Osorio
Wednesday, 01 September 2010
The Philippine Star
MANILA,
Philippines – After missing the deadline to create the implementing rules and
regulations (IRR) for the Comprehensive Motor Vehicle Development Plan (MVDP),
the private sector has given the government 30 days to come up with the IRR.
In an
interview with reporters, Philippine Automotive Competitiveness Council Inc.
(PACCI) executive director Benjamin Sevilla said that although the Board of
Investments (BOI) missed the Aug. 31 deadline for the completion of the IRR,
they are confident that they are making substantial progress.
Toyota Motor
Philippines Corp. is mapping up plans for further expansion and additional
investments starting next year as the industry gears up for growth.
TMP vice
chairman Alfred Ty said the additional investments, which would come very soon,
are related to the growth of the market.
Nissan Motor
Philippines Inc. (NMPPI) is poised to launch more completely built-up (CBU)
big-engine vehicles in the Philippines imported from Japan, which are now made
cheaper by the implementation of the Japan-Philippines economic partnership
agreement (JPEPA).
Allen Chen,
president and chief executive officer of NMPI, said as a preview, the company
will launch the new 2.5-liter Teana which is seen to become an aggressive
player in the premium car segment.
