On 12 December 2024, PEZA Director General Tereso O. Panga, together with Deputy Directors General Vivian S. Santos, Maria Veronica F. Magsino, and Anidelle Joy M. Alguso graced the 25th Toyota Special Economic Zone (TSEZ) Regular Update to PEZA held at Kingsford Hotel, Pasay City.
Toyota Motor Philippines Corporation (TMP) President Masatoshi Shindoh and the representatives of TSEZ locators, and the Toyota Group's Export Suppliers delivered performance updates of their respective operations, shared their bright company outlook for 2025, and expressed gratitude to PEZA for the agency’s strong and continuous support.
The companies also laid out their concerns on their export operations and logistics. Among the concerns raised were CREATE MORE incentives, clarification on VAT, digitalization on processes, and request for PEZA to support TMP's advocacies with the Department of Trade and Industry (DTI).
Director General Panga reassured TMP and TSEZ locators as well as their suppliers of PEZA's continued support to their investment and business endeavors for years to come. He likewise encouraged the Toyota Group and their suppliers to take advantage of the most generous tax regime in ASEAN and help in our quest to attract more automotive investors in the Philippines.
"This approach by TMP of bringing in their supply chain to the Philippines exemplifies the thrust of PEZA in encouraging manufacturers to consolidate their allied down stream partners into our zones," noted the PEZA Chief.
As of November 2024, TMP and other locators in TSEZ already injected more than PhP 18 Billion worth of investments and hired above 3,000 workers.
#PEZA # ToyotaMotor #Automotive
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