Today, the Philippines are facing a major crisis in the food industry, the rice supply to be specific. There has been a shortage of rice production for the last two years due to the series of typhoons that hit the country, and of course, the controversial issues that involved government officials. Anyhow, along with these concerns, plus the continuing price hike of several of our basic needs, there is also good news that we should all be happy about, at least. And it’s Toyota, amplifying their investment here in the Philippines.

Tsikot.com reported that Toyota Group has increased its over P20 billion investment in the country as one of its Asian associate, Tokai Rika Philippines Inc. (TRP). The group is planning to expand its production facility and doubled its venture for the benefit of Toyota and the country as well.

“As we increase our production, our suppliers will naturally follow suit,” stated TMP vice president Rommel Gutierrez in an interview with The STAR.

TRP’s investment is likely to arrive at P1.2 billion as the company announced it will expand its production facility at its plant inside the Toyota Industrial Complex located in Sta. Rosa, Laguna, according to Gutierrez. TRP’s latest investment will call for a total of 5,600 square meters of plant facilities extension. The projected finishing date of the new building is by November 2008.

“This new investment is part of TRP Inc.’s commitment to contribute to the development of the Philippine automotive industry, as well as the regional economy through parts production and exports,” added Gutierrez.