THE Department of Trade and Industry sees cost pressures and weaker consumer demand making a negative impact on the growth of the local automotive industry. DTI Export Marketing Bureau Director Bianca Pearl Sykimte said that cost pressures are expected to persist due to rising labor, investment, and research and development costs associated with the production of electric vehicles .
'From what we have seen, the auto parts industry is very important with regards to our modernization program. In line with the rise of quality, sustainable vehicles, so too will the need for quality parts,' Ortega said.'For these opportunities, I think this is a good start for the DOTr and the Department of Trade and Industry to work together to further help our transportation sector,' he added.
Source: News Formal (newsformal.com)
Sees Continued Cost Pressures On Auto Industry
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DTI Northern Samar products takes center stage in trade fairSunStar Publishing Inc.
Source: sunstaronline - 🏆 18. / 59 Read more »
Enforcement of import regulations levels playing field for local manufacturersLocal cement manufacturers applaud the Department of Trade and Industry (DTI) for bolstering the Philippine manufacturing sector through its recent enforcement action against non-compliant cement importers.
Source: BusinessMirror - 🏆 19. / 59 Read more »
DTI backs RE cooperation with BruneiTHE Department of Trade and Industry (DTI) is backing renewable energy cooperation with Brunei and is urging investments from oil and gas companies.
Source: TheManilaTimes - 🏆 2. / 92 Read more »
DTI eyes partnership with Qatari firmTHE Department of Trade and Industry (DTI) is eyeing a large-scale partnership with the Qatari Baladna, a Qatari agricultural firm, to boost dairy self-sufficiency in the Philippines.
Source: TheManilaTimes - 🏆 2. / 92 Read more »
Philippines, Qatar to finalize ratification of investment promotion and protection dealThe governments of the Philippines and Qatar are set to finalize the ratification of the Investment Promotion and Protection Agreement (IPPA) this year, the Department of Trade and Industry (DTI) said Wednesday.
Source: gmanews - 🏆 11. / 68 Read more »
DTI: Retailers eye price freeze impositionLEADING manufacturers and retailers have expressed willingness to explore a voluntary price freeze on essential goods amid the El Niño, according to the Department of Trade and Industry (DTI).
Source: TheManilaTimes - 🏆 2. / 92 Read more »