RP hints at policy change for GM<\/p>\n
MANILA (AFP): A senior government official hinted yesterday
\nthe Philippines was ready to revise automotive industry policies
\nto enable General Motors Corp. (GM) of the United States to set
\nup an assembly facility here.<\/p>\n
GM early this year proposed a US$4.04 billion investment to
\nthe government including an automotive transmission plant to be
\nfollowed by an assembly plant for the Corsa and Tigra models.<\/p>\n
However Manila has ruled that under present rules applicants
\nto the country's motor vehicle development program have to open
\nan assembly plant first before venturing into parts
\nmanufacturing, Trade Secretary Cesar Bautista said.<\/p>\n
GM wants the parts plant in place and to be counted as part of
\nits investment for the assembly plant, he told reporters.<\/p>\n
\"Existing assemblers do not want them (GM) to come in\" by way
\nof the investment scheme proposed by the US giant, and instead
\nwant it to set up \"along regulations\" set by the program,
\nBautista added.<\/p>\n
He said the department's Board of Investments will come up
\nwith a solution to accommodate GM's proposed project without
\nhurting the industry itself. He would not elaborate.<\/p>\n
\"We want to make sure current participants will not be
\ndisadvantaged,\" Bautista said. \"We will make a decision based on
\nwhat is good for the industry.\"<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/rp-hints-at-policy-change-for-gm-1447893297",
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"sponsor_url": "https:\/\/okusiassociates.com"
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