Toyota Motors PH Sees Fiscal Incentives as Key to Industry Competitiveness
Santa rosa: Toyota Motor Philippines Corporation (TMP) has highlighted fiscal incentives as a crucial factor in maintaining competitiveness within the industry by helping players manage costs effectively. The company’s officials emphasized the importance of government policies in strengthening local manufacturing industries, including vehicle manufacturing and the parts supply chain. According to Philippines News Agency, TMP officials assess government policies based on their impact on local manufacturing capabilities. They believe that fiscal incentives for investments in local capabilities, along with supportive policies such as promoting locally manufactured vehicles, are instrumental in keeping production costs competitive. These measures also boost domestic demand,