President Ferdinand “Bongbong” Marcos Jr. hailed Mitsubishi Motors Corp.’s (MMC) ₱7-billion investment plan in the Philippines, saying it will create more jobs and boost the country’s automotive industry.
During a courtesy call at Malacañang on Thursday, MMC President and CEO Takao Kato outlined the company’s five-year expansion plan, which includes introducing a new production model at Mitsubishi Motors Philippines Corp. (MMPC) in Laguna.
“The jobs that your investment will provide are very important to us, and certainly, vehicle manufacturing is one of those,” Marcos said.
MMC’s Commitment to the Philippines
Kato emphasized the Philippines as MMC’s top market in Southeast Asia, citing its stable economy as a key factor for continued investment.
“In the ASEAN, the Philippines is our number one market,” Kato told Marcos.
The Japanese automaker will also be included in the government’s Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) Program, a proposed update to the Comprehensive Automotive Resurgence Strategy (CARS) Program.
Mitsubishi’s Global Presence
Founded in 1970, MMC operates production facilities in Japan, Thailand, Indonesia, Vietnam, China, Russia, and the Philippines. The new investment reaffirms its commitment to the growth of the Philippine automotive sector.