President Rodrigo Duterte has assured the business community the government would protect their investments in the country, as long as they obeyed the laws of the land.
The President made the assurance as he graced the 30th founding anniversary of Toyota Motor Philippines at the Grand Hyatt Hotel in Taguig City on Wednesday.
“I send a message to the rest of the business community: This government will protect you and your investments and will ensure a level-playing field for you to thrive in as long as you obey the laws of the land and safeguard the welfare of your people and the general public,” Duterte said.
He congratulated TMP for being one of the leading pioneers in the country’s automotive industry and thanked them for their contribution to the economy.
“Toyota Motor Philippines is not only a leader in the production of quality vehicles. It is also a major driver of our economy, encouraging investments that spur national development,” he said.
“It is also a key generator of employment, nurturing the skills and talents of over 55,000 employees,” he added.
Duterte likewise noted that TMP had been the government’s steadfast partner in initiatives such as the Comprehensive Automotive Resurgence Strategy program that aims to attract more investments and implement regulations for the improvement of the automotive industy.
TMP has invested a total P5.53 billion to bring in new in-house and out-house manufacturing capabilities in the said program, according to the President.
He then assured TMP of the administration’s full support as the company continues to bring the standards of the automotive industry of the country to greater heights.
The Chief Executive also expressed his appreciation to the company’s initiatives to uplift the lives of the underprivileged Filipinos through various scholarships and medical outreach programs, which he said were in line with the administration’s focus in eradicating illegal drugs, criminality, and corruption in order to encourage business to grow.
“Through your corporate social responsibility initiatives such as scholarship opportunities, reforestation projects, annual dental and medical outreach programs, you have pursued a meaningful business that works towards the upliftment of local communities and the global environment. I ask you to continue doing so as we realize a more sustainable society,” he said.
During the event, TMP donated 30 locally produced vehicles to the government, 20 units of all new Vios and 10 units of Innova, symbolizing the 30 years of its committed passion and service to the Philippine nation.
TMP also committed to give three Hiace units to the government.
Toyota Motor Philippines Corporation was incorporated in August 3, 1988 by the group of Dr. George S.K. Ty, Dr. Shoichiro Toyoda, and Mitsui & Company Ltd.
It is the largest automotive company in the country, with the widest vehicle line-up of 17 models and sales distribution and service network composed of 67 dealerships nationwide, including Lexus Manila, Inc.