Kindly sit down.

Executive Secretary Salvador Medialdea; Secretary Ramon Lopez, the Department of Trade Industry; Secretary Carlos Dominguez; Mr. Osamu Masuko; Mr. Yoshiaki Kato; the officials and employees of Mitsubishi Motors Corporation and Sojitz Corporation; fellow workers in government; honored guests; my beloved countrymen.

Few of the times that I would read the speech. In this crowd, you have to be prim and proper. In about two minutes, you’re through.

This event marks another milestone in the Philippines’ car industry as we launch the Philippine-manufactured Mitsubishi Mirage G4, as part of the Comprehensive Automotive Resurgence Strategy or CARS Program.

I have always been grateful to our partners from Japan and their trust and confidence in the Filipino people. Truly, your continued investments and expansion of business in the country have contributed to the flourishing economy of the Philippines.

The CARS Program demonstrates our commitment to pursue initiatives that will create more jobs for our people and help achieve sustained prosperity in our country.

This complements our government’s Zero Plus Ten-Point Socio-Economic Agenda, which aims to improve all sectors towards efficiency and development.

Today, fresh from their plant in Sta. Rosa, Laguna, we’re witnessing the rolling off of the first of the 200,000 Mirage cars from Mitsubishi Motors Corporation that will be locally manufactured under the CARS Program.

Proudly, we can now say that the Mitsubishi Mirage, currently the second top-selling passenger car in the country, is made in the Philippines.

Last year, during my State Visit to Japan, I met Mr. Masuko, who signed a letter of intent reaffirming Mitsubishi Motors’ commitment to the CARS Program.

Back here, the Department of Trade and Industry and the Bureau of Investments have been tirelessly working with stakeholders to ensure that the program is successfully implemented.

Because of this collaboration, the first unit of the “Made in the Philippines” Mirage has been manufactured using materials and supplies from local parts manufacturers and other related local industries in the country.

Under the CARS program, the investment committed or commitment of the Mitsubishi expected to add around 7,900 direct employment opportunities and an estimated additional government revenue of 5.72 billion pesos.

This is a testament to the kind of friendship and cooperation that Japan and the Philippines have shared and nurtured throughout the years.

Let me take this opportunity, too, to reassure our stakeholders from the automotive industry that we will take due consideration of your concerns about our package of proposals, fiscal reforms.

We will ensure that its impact will be fair and supportive of your growth as participants in the CARS Program.

My sincerest thanks to Mitsubishi for your dedication and partnership.

Let us continue working together in enlivening our business environment and in making the Philippines not only a regional auto manufacturing hub, but as one of the world’s liveliest economies.

Let the cars we manufacture be the vehicles of progress and let the excellence of hard work be the fuel that will drive us towards greater success.

Thank you and I wish you all a good afternoon.