THE JEEPNEY MODERNIZATION AND CAR MANUFACTURING

In the headlines, the jeepney modernization program will kickstart by next week, the entry of the year 2018.

An by this rule, the government will now implement the modernization of this type of mass transport system.

The only thing that Super Plipinas is trying to impart the idea of car manufacturing is because the jeepney modernization is just apropos to the condition of this matter.

Timely that the government should make use of the program to initiate our car manufacturing in the country just like Vietnam is now in the verge of starting its own car manufacturing, solidly Vietnamese.

This concern is very important to our economy, as the expense of the government regarding procuring the needed vehicles that will originate offshore like Mitsubishi and Isuzu brands will mean  the exodus of our dollar reserves in the treasury.

As we have a very small export volumes, and the importation levels exceeds exports, the matter becomes difficult for the country to attain the needed economic recovery of the country.

Our BOPs, to serve our foreign debt obligations has already skyrocketed because of the falling value of the Peso. That if by the entry of the jeepney modernization, deemed as another expense of our dollar, will mean a further

decline to our economy.

In view, once the  modernization has taken place, there is not much change or contribution to return our foreign reserves to the original levels, likewise, the situation will become stucked being low and depleted reserves.

The amount of  initial outlay of the government of about 27 billion pesos as reported is big enough to kickstart capitalization of the car industry we dreamed of, and for the next more years ot its implementation, the 300 billion pesos of its cost/amortizations is more than enough to make a statement of investment for our local car manufacturing.

The transfer of technology is not a problem either. By simple arrangement with a foreign car maker, technology can be acquired in that scheme as achieved by China seen in the past years. Moreso, the initiation of Vietnam for its own car industry is a thing that must keep us at race with our neighbors in the region to attend to our own car manufacturing.

Why don't want to engage in Car manufacturing is a wonder to me. Our continued refusal on the industry is already appalling to think of. Our refusal is a denial for the industrialization of our own economy which is the norm of the game today.

I hope our leaders will find the idea of car manufacturing very important to today's trade war.