Issue of September 1, 2019
     
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DTI to help investor find local partner for PUV modernization
by Press release

Department of Trade and Industry Sec. Ramon Lopez committed to help the Hinduja Group of Companies find a local partner for their plan to manufacture buses for the Philippines government’s Public Utility Vehicle (PUV) Modernization Program, should they decide on a partnership model for the business venture.

In a meeting with DTI on Aug. 23, Hinduja Group (Europe) Chair Prakash P. Hinduja was assured of this support.

Hinduja Group is one of the largest diversified groups in the world, with investments in automotive, oil and gas, real estate, power, healthcare, trading, information technology, media, and banking and finance.

The group is in the country through its subsidiary, Hinduja Global Solutions Philippines, an IT-BPO company with around 9,000 employees in its 11 sites located in Quezon City, Muntinlupa City, and Iloilo City.

Hinduja said he previously met with the Department of Transportation and relayed that the agency needs over 100,000 vehicles for the modernization program.

Aside from buses, the trade chief also urged the company to manufacture modern jeepneys and electric vehicles in the country.

Lopez said this is in line with DTI’s plan to boost Philippine manufacturing to create jobs, answer domestic and export demand, and lessen the country’s dependence on imported products.

Hinduja Group would explore the suggestions of DTI for this opportunity and see if progress can coincide with the upcoming visit of Indian President Shri Ram Nath Kovind’s visit to the Philippines.

Also present during the meeting were BOI-International Investments Promotion Service Asia Division Head Jean Traballo, Hinduja Group Resident Director for Corporate Affairs Ajit Kumar, Hinduja Global Solutions Philippines President and CEO Pushkar Misra, Federation of Indian Chambers of Commerce Philippines President Rex Daryanani, and DTI Asec. Angelo Taningco.


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