Toyota Motor Philippines Corp. (TMP) expressed confidence in sustaining its growth momentum in 2025, citing robust government support for the automotive sector and a stable investment climate.
Executives of TMP and its export network operating within the Toyota Special Economic Zone (TSEZ), in a meeting with the Philippine Economic Zone Authority (PEZA) on June 20, 2025 at the City of Dreams Manila, reviewed their 2024 performance, citing continued expansion plans.
TMP also raised key policy concerns including the implementation of CREATE MORE incentives, clarification on VAT-related issues and the impact of shifting global trade policies, particularly tariffs imposed under the Trump administration.
They called on PEZA to sustain coordination with the Department of Trade and Industry (DTI) and other key agencies to maintain the competitiveness of the Philippine automotive industry.
PEZA director-general Tereso Panga assured stakeholders that the agency is undertaking initiatives to strengthen the sector’s growth.
These include strategic efforts such as negotiating more favorable tariff regimes under most-favored nation (MFN) terms, attracting manufacturers looking to diversify from China under the China +2 strategy, and expanding the country’s Free Trade Agreement (FTA) network with major economies like the European Union, India and Canada.
Panga said TMP’s integrated supply chain strategy aligns with PEZA’s push to build industrial ecosystems inside economic zones where manufacturers and suppliers can operate more efficiently.
“With this enabling support, TMP is bullish about their continued growth in the Philippines, given the strategic importance of the country being Toyota’s 10th largest global market and 5th largest market in the Asia-Pacific region,” Panga said.
PEZA hosts 68 automotive companies that have invested over P100 billion since 2007, generating more than 50,000 direct jobs.
