ASEAN KEY DESTINATIONS
Philippines assures importers
The recently formed Association of Vehicle Importers and Distributors (AVID) in a position paper had asked the government to temper the subsidy for vehicle and parts makers because of the country's tight fiscal situation and the local auto sector's lack of competitiveness.
The group also wants to be part of the Motor Vehicle Industry Council that would be formed under the CMVDP, or Executive Order (EO) 877-A.
It said industry representation in the council should be limited to being "resource entities," citing the conflict of interest if CMVDP participants are members of the council which would be involved in the assessment of the program participants themselves.
Also, AVID said it "would firmly and vigorously oppose any policy that will enhance the CMVDP incentive complement at the expense of fair competition . . . [including] any upward restructuring of import tariffs or excise tax on CBU [completely built unit] imports . . . that would wittingly or unwittingly stifle local market competition to the latter's undue disadvantage and prejudice."
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