As the Philippines reels from its recent successful hosting of the 50th ASEAN Summit, the country also sees continued economic growth going into 2018. This can be seen in sectors like manufacturing, which grew by 9.4 percent in Q3 2017.
Hyundai Asia Resources Inc, the official Philippine distributor of Hyundai vehicles, likewise recognizes this potential. HARI notes that the country is on its way to greater heights, what with 9 out of 22 subsectors posting double-digit growth. This was what made the 8.3 percent increase in manufacturing possible, said the Philippine Statistics Authority.
This is what promoted HARI to unveil the first Hyundai Assembly Center in the country earlier this year. HAC is part of Hyundai Motor Company’s strategy to further develop human capital and spur investments in the region, just as it did in Indonesia and Vietnam. Moreover, it will help the Philippines as it moves towards ASEAN Economic Integration.
The said facility will put together the Eon supermini and the H350 van. The Eon, which sold some 5,903 units in 2017, is aimed at first-time car buyers. The H350, on the other hand, was he official mobility vehicle during the recent ASEAN 50 Business and Investment Summit.
With the Hyundai Assembly Center, HARI hopes to contribute to further economic growth in the years to come.
