Board of Investment hit on ‘slow’ car industry
Lawmakers on Tuesday scored the Board of Investments for the stunted growth of the country’s car development program, owing to its failure to lay down guidelines to its investors on issues affecting the industry.
At a congressional hearing conducted by the House committee on ways and means, deputy speaker and AAMBIS-OWA party-list Rep. Sharon Garin took note of the BoI's alleged biases against non-Japanese local assemblers and new players in the industry.
Similarly, Representatives Lyndia Bolilia of Batangas, Rodel Batocabe of Ako Bicol party-list and Manuel Zubiri of Bukidnon stressed the need for the government to come up with clear-cut guidelines with regard to its Motor Vehicle Development Program.
“Otherwise, the country will continue to lag behind its Asean neighbors in local automotive manufacturing,” Batocabe said.