PASIG CITY — President Rodrigo Roa Duterte on Wednesday, November 7, graced the launch of the “promising partnership” between Guangzhou Automobile Motor Corporation Limited (GAC Motor) and the Legado Motors of the Philippines.
During the brand launch at the Metrotent, Metrowalk Commercial Complex, the Chief Executive assured investors of the country’s improving business environment.
“It is indeed an honor to welcome GAC Motor to the Philippines. On behalf of the Filipino people, I’d like to thank you for your confidence in investing and expanding your business here in this country,” President Duterte said in his opening statement.
“Rest assured that your trust will never be put in vain. The Philippine automotive market is among the fastest growing in Southeast Asia. Its annual growth rate of 22 percent in the last five years makes it a conducive place for trade and business,” he added.
“Our outlook for the automotive industry in the long term remains bullish as we expect continuing motorization that will be driven by our robust economic growth. Indeed, recent studies estimate that the local motor vehicle demand can reach one million units in 2028,” he said.
The President believed that the entry of GAC Motor in the Philippine market would provide consumers with more choices in purchasing motor vehicles.
He also assured that this government is doing its best to level the playing field for the investors, and promised to provide necessary assistance for foreign and local ventures to prosper.
“Just this year, I have signed the Ease of Doing Business Act to simplify government services and transactions. With this law, we expect to attract more investments and encourage stakeholders to actively contribute in strengthening and cultivation of our industries,” President Duterte affirmed.
He then reiterated the government’s continuous efforts in eradicating criminality, imposing law and order, and fighting corruption for the Philippines to have a business-friendly environment.