FOCUS Ventures, Inc., the local distributor of Chinese automotive brand Chana, may invest $8 million on a Philippine assembly plant if domestic sales go up significantly, an executive told reporters yesterday.
“Our principal is pushing us [to put up a factory] but we said, ‘hold it,’” Focus Ventures President Stephen D. Sy said at the sidelines of a motorshow media launch.
Sales will have to hit 100 units a month before assembly operations here are deemed feasible, Mr. Sy said.
The two-year-old firm vehicle distributor so far averages 30 units a month in sales, he said.
Focus Ventures enjoys a niche in the low-cost commercial vehicle segment with the P280,000 “multi-carry one” compact truck enjoying the most demand.
The vehicle sales target that will trigger the investment will hopefully be achieved “in one or two years,” Mr. Sy said. — Jessica Anne D. Hermosa, Businessworld
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of Forced Labour and Freedom of Association protocols.
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