The Marcos administration is now studying the proposed extension of the Comprehensive Automotive Resurgence Strategy (CARS) program, President Ferdinand Marcos Jr. said.
In a statement, the Presidential Communications Office said that Marcos had a meeting with officials of Mitsubishi Motors Corporation here.
“It is something that would be important to the Philippines because we are trying to encourage now... both for local businesses and businesses from other countries and businesses from Japan… we are trying to encourage this capital investment to improve the share of manufacturing contribution to the GDP ,” said Marcos.
Marcos said that manufacturing seems to be the direction that the Philippines is going, in a bid to "balance the economy."
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