STATE ASSISTANCE to the automotive industry should be prioritized as it has the highest multiplier effect in generating jobs, an economist said yesterday.
Cid L. Terosa of the University of Asia and the Pacific on Friday presented a study which claimed that the car industry, currently employing about 170,000 individuals, has the highest job generation multiplier effect in the manufacturing industry.
The study, tapping data from the National Statistics Office, was presented at the 2nd Philippine Automotive Manufacturing Summit organized by the Philippine Automotive Competitiveness Council, Inc.
Air transport and paper manufacturing followed the auto industry in generating jobs.
Mr. Terosa said the recent study was done in two to three months.
One possible state assistance, Mr. Terosa said, is increasing the tariff for completely built units.
“If the tariff is increased we can make the local industry more competitive. We also have to watch the importation,” he said.
For his part, Roberto Cruz of the Automotive Body Manufacturers Association of the Philippines told reporters in an interview at the sidelines of the event that the industry should produce a minimum of 150,000 units of higher-value products such as steering systems, suspension and breaks to realize the job multiplier effect.
The industry currently manufactures 70,000 units of the higher-value products. — E. N. J. David, Businessworld
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