Gov't assures Toyota, Mitsubishi of incentive paymentsPresident Ferdinand Marcos Jr. receives keys for the 35 newly donated vehicles from Toyota Motor Philippines during a visit to the company’s manufacturing plant in Santa Rosa, Laguna, on Aug. 22, 2023. MANILA, Philippines — The government has not withdrawn support from the automotive industry and will settle outstanding obligations to car manufacturers Toyota and Mitsubishi, the Department of Budget and Management said on Monday, January 19. The statement followed President Ferdinand Marcos Jr.'s veto of two automotive industry programs in the proposed 2026 national budget that grant tax benefits to manufacturers. These budget allotments are sourced from savings of the DTI–Board of Investments and the Department of Public Works and Highways. Payments, future fundingThe DBM said obligations not covered by issued TPCs may be proposed in the 2027 National Expenditure Program.

Source: Philippine Star January 19, 2026 05:17 UTC