Car Hub Project to Spur Philippine Manufacturing: Southeast Asia
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The Philippines will offer tax breaks to as many as three automakers as one of Asia’s fastest growing economies aims to become a regional production hub.
President Benigno Aquino is set to issue an order implementing the Comprehensive Automotive Resurgence Strategy program, or CARS, “within this year,” Trade Secretary Gregory Domingo said in an interview in his office in Manila Tuesday. “The car industry’s supply chain feeds into other industries, and we think that becoming a regional hub will help fill our gaps in manufacturing.”