DOF highlights CARS funding fix, reformsFinance Secretary Frederick Go (center) is flanked by Public Works Secretary Vince Dizon and Transportation Secretary Giovanni Lopez during the press briefing for ‘Big Bold Reforms: The Philippines 2026’ held at Shangri-La The Fort in Bonifacio Global City, Taguig yesterday. “After the much chatter on the vetoed funding of the CARS program, the government finalized a funding solution for the CARS program, and therefore, car manufacturers enrolled in the program can now be assured that the government will fulfill its commitment to investors,” Go said. “All the private sector stakeholders always stress three things: the ease of doing business, the cost of doing business and predictability of doing business,” he said. The CARS program was introduced in 2015 to provide time-limited, performance-based fiscal incentives aimed at drawing strategic investments into the local production of motor vehicles and automotive components. Beyond the CARS program, Go outlined several reforms aimed at cutting red tape and lowering compliance costs.

Source: Philippine Star January 16, 2026 16:32 UTC