THE Department of Trade and Industry (DTI) said the P3.5-billion expansion of Yokohama Tire Philippines, Inc. is set to provide a boost to Philippine exports, apart from creating jobs.
“This strategic expansion is poised to not only strengthen the Philippines’ export capabilities but also create numerous job opportunities for the local community,” Trade Secretary Alfredo E. Pascual said in a statement on Monday.
Yokohama broke ground on a new facility in Clark in Central Luzon, which is expected to be operational by the second quarter of 2026.
“We at the department are supportive of Yokohama’s steadfast commitment to fostering economic growth and prosperity,” Mr. Pascual added.
The DTI said that the Japanese firm’s expansion could generate about 500 new jobs in the Clark area, adding to the 3,000 employees it now has.
The expansion is set to increase tire output for the company to 10 million tires from the over 9 million currently being produced in the Philippines.
“Part of that is going to be sold locally, but the bulk will be for the export market, which is also very good for the country. But for this to be meaningful, we want local raw material sourcing,” he said.
He added that Philippine rubber production accounts for about 50% of the company’s requirements.
“Hopefully, they can further contribute to economic growth in the country by increasing the purchases of natural rubber from our producers, mostly in Mindanao,” Mr. Pascual said.
He added that the DTI will also assist the company in obtaining more natural rubber from domestic sources. — Adrian H. Halili
