ASEAN KEY DESTINATIONS
New Philippines auto program
The guidelines of the new auto program would likely be approved for implementation next month, the same sources said.
The Board Of Investment (BOI) is in charge of coming up with the plan.
A government source had said that there would be marathon hearings, as the BOI "wants to hear everyone."
The agency initially aimed for presenting the IRR for public consultation early this month, but it had given the Alliance of Vehicle Importers and Distributors (AVID) time to submit inputs, hence delaying the drafting of the guidelines.
In its position paper, AVID asked the government to temper the subsidy for vehicle and parts makers because of the country's tight fiscal situation and the domestic auto industry's lack of competitiveness.
Panlilio said the BOI does not have to answer back the points raised by AVID.
"[The BOI] is just getting [AVID's] observations," he said, adding that the IRR would be representative of the various recommendations of industry stakeholders.
On October 8, the Philippine Automotive Competitiveness Council Inc. (PACCI) would hold a conference to present an independent and comprehensive input-output analysis conducted by experts from the University of Asia and the Pacific (UA&P).
"The study's objective is to show the comparative importance of the auto manufacturing industry to the entire economy," Benjamin Sevilla, PACCI executive director, said.
Sevilla said preliminary findings of the UA&P study shows that the auto industry ranked high-one of the top five sectors-in terms of contribution to the economy among about 240 industries covered.
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