Mitsubishi Motors Corp. on Thursday expressed interest to expand its car production in the Philippines.
MMC signed a letter of intent Thursday during a meeting in Tokyo with Philippine government officials led by President Rodrigo Duterte indicating its plan to expand production operation in the Philippines.
Mitsubishi Motors Philippines Corp., the Philippine unit of MMC, received a government approval in June to participate in the Comprehensive Automotive Resurgence Strategy program.
The LOI reconfirmed MMC and the Trade Department’s commitment on the Cars program under the Duterte administration.
Mitsubishi will participate in the Cars program through local production of the Mirage hatchback starting January 2017.
Meanwhile, Agriculture Secretary Emmanuel Piñol said the Agriculture Department signed an agreement with a Japanese company for the supply of 20 million boxes of Cavendish bananas to the Japanese market every year.
Piñol said the deal with Farmind Corp. was expected to earn for the country some P5 billion every year.
“The signing of the agreement will mark the start of the development of about 7,000 hectares of banana farms which the Japanese company, Farmind Corp., would like to be located in former conflict areas in the Southern Philippines,” Piñol said.