Mitsubishi’s ₱7-B Investment to Boost Jobs for Filipinos – Marcos

President Ferdinand “Bongbong” Marcos Jr. has welcomed Mitsubishi Motors Corp.’s (MMC) ₱7-billion investment plan in the Philippines over the next five years, emphasizing its potential to generate employment for Filipinos.

During a courtesy call at Malacañang on Thursday, MMC President and CEO Takao Kato discussed the company’s expansion strategy, which includes adding a new production model at the Mitsubishi Motors Philippines Corp. (MMPC) facility in Laguna.

“The jobs that your investment will provide are very important to us, and vehicle manufacturing is a key sector in our economy,” Marcos stated.

The President also confirmed that MMC would be part of the government’s Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) Program, a proposed upgrade to the Comprehensive Automotive Resurgence Strategy (CARS) Program aimed at strengthening the local automotive industry.

Mitsubishi Sees the Philippines as a Key ASEAN Market

Kato underscored the significance of the Philippine market, describing it as MMC’s top priority in Southeast Asia due to its stable and growing economy.

“In the ASEAN, the Philippines is our number one market,” Kato told Marcos.

Founded in April 1970, MMC is a multinational automotive giant with production hubs in Japan, Thailand, Indonesia, Vietnam, China, Russia, and the Philippines.