Marcos says Mitsubishi's P7-B investment plan to create jobs for Pinoys

President Ferdinand ''Bongbong'' Marcos Jr. welcomed Mitsubishi Motors Corp.'s (MMC) P7-billion investment plan in the Philippines in the next five years, saying that this will create employment for Filipinos.

This as MMC president and CEO Takao Kato paid a courtesy call on Marcos in Malacañang on Thursday wherein they tackled the company's investment plan for the country.

The MMC's expansion plan includes adding a new production model at its Mitsubishi Motors Philippines Corp. (MMPC) plant facility in Laguna, according to Kato.

"The jobs that it will provide, that your investment will provide, are very important to us and certainly, vehicle manufacture is one of those," Marcos said.

The President said the MMC would be included in the government's Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) Program, which is a new proposed version of the Comprehensive Automotive Resurgence Strategy (CARS) Program.

For his part, Kato mentioned that the Philippines is MMC's most important investment in Southeast Asia, citing its good and stable economy.

"In the ASEAN, (the) Philippines is our number one market," Kato told Marcos.

Founded in April 1970, the MMC is a multinational automobile manufacturer, maintaining production facilities in Japan, Thailand, Indonesia, Vietnam, China, Russia, and the Philippines.—KG, GMA Integrated News