BMW AG is exploring the possibility of ordering more auto parts from the Philippines, according to the Department of Trade and Industry (DTI), which will organize a business matching event to line up potential suppliers for the German automaker.
The DTI’s Board of Investments (BoI) said it will conduct on June 19 a BMW Information Session and Business Matching session in Makati City.
“The event provides an opportunity to gain insights on how a European car manufacturer sees the future of automotive, and how the Philippines positions itself amidst the fast-paced technological growth in the sector,” the DTI said in a statement Thursday.
At the event, BMW is expected to present its insights on the “New Automotive Economy” and the firm’s sourcing strategies and rules.
Asked if BMW expressed specific interest in expanding sourcing from the Philippines, Trade Secretary Ramon M. Lopez said the expression of intent was made “about a year ago when we visited their plant in Germany.”
“We made a pitch to them before. Offered auto parts and services, technicians,” Mr. Lopez said in a mobile message yesterday.
The event is seen as an opportunity for parts suppliers to attract new business and expand beyond traditional markets.
The BoI and World Bank Group have a supplier development program aimed at enabling small- and medium-sized suppliers in the automotive, electronics and aerospace sectors, particularly improving their products and processes to meet the global standards of multinational customers.
The BoI this month held an event briefing and business coaching session to prepare potential parts suppliers for the BMW meeting.
BoI Executive Director for Industry Development Services, Ma. Corazon Halili-Dichosa, said the Philippines continues to work towards strengthening research and development capabilities in the sector and be able to “engineer the next driving experience.”
Trade Secretary Ramon M. Lopez said the DTI is expecting about 50 companies to attend the event and engage with BMW.
“The focus of the sourcing activity is Filipino companies engaged in auto electronics, wiring harness, filters and some metal parts,” Mr. Lopez said in a mobile message yesterday.
“[BMW] wants to expand their current network of suppliers and they would like to explore our competencies to help them in their international production,” he added. — Janina C. Lim