President Rodrigo Duterte lauded on Wednesday Toyota Motor Philippines' contribution on the local economy during the past 30 years.

In a speech during the 30th anniversary of Toyota held in Taguig City, Duterte assured the Japanese company that as his administration continues to institute reforms in governance, it could count on his full support as it continues to bring the standards of the automotive industry to greater heights.

"Toyota Motor [Philippines] is not only a leader in the production of quality vehicles. It is also a major driver of our economy, encouraging investments that spur national development. It is also a key generator of employment, nurturing the skills and talents of over 55,000 employees," he said.

He noted that Toyota has also been the government’s steadfast partner in many initiatives such as the Comprehensive Automotive Resurgence Strategy Program or CARS, which aims to attract more investments and implement regulations that would transform the Philippines into an automotive manufacturing hub.

As he assured Toyota of his support, Duterte said his message to the rest of the business community, "this government will protect you and your investments and will ensure a level-playing field for you to thrive in as long as you obey the laws of the land and safeguard the welfare of your people and general public."

Also present in the event were Japanese Ambassador to Manila Koji Haneda, Toyota Motor Corporation President Akio Toyoda, Executive Secretary Salvador Medialdea, Finance Secretary Carlos Dominguez III, Trade and Industry Secretary Ramon Lopez, and some lawmakers. Celerina Monte/DMS