CEBU CITY -- President Ferdinand “Bongbong” Marcos Jr. approved the five-year extension of the Comprehensive Automotive Resurgence Strategy (CARS) program that the Jobs Sector of the Private Sector Advisory Council (PSAC) recommended in collaborative discussions with the President, Vice President Sara Duterte, cabinet members, and government leaders to expand the country’s automotive industry.
The CARS program, initially introduced through the issuance of Executive Order No. 182 in 2015, gave participating automakers six years to reach the minimum volume target sales of 200,000 domestically produced automobiles for each of the enrolled car types in order to qualify for incentives.
CARS has demonstrated its effectiveness and value as a high-end manufacturing operation which has greatly helped in the creation of jobs, transfer technology, and boost global competitiveness by supporting domestic auto manufacturing and stimulating investment.
The extension of CARS for 5 years will continue to provide incentives and support for manufacturers that meet specific requirements in terms of investment, production, and technology development. CARS will also continue to provide significant employment opportunities as well as the foundation for the future development of the economy.
On the other hand, in a continuous effort to create more employment opportunities and accelerate the development of “nanoprenuers”, the PSAC introduced a new recommendation which further supports MSME development, the Motorcycle Micro Business Program.
While waiting for the passage of the law, PSAC is seeking for a Nationwide expansion via Executive Order which aims to create over two million jobs for habal-habal riders and provide access to transform their livelihoods, becoming platform self-entrepreneurs.
At the meeting, Sec. Bautista of the Department
of Transportation (DOTr) provided an update on their ongoing review of the
Executive Order (EO) for the Motorcycle Micro Business Program. (Photos: PSAC FB/Google Images)
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