DTI welcomes P3.5B Yokohama Tire expansion in Clark

The Department of Trade and Industry (DTI) announced that the P3.5-billion expansion of Yokohama Tire Philippines, Inc. in Clark is expected to significantly boost the country's exports and create approximately 500 new jobs.

Trade Secretary Alfredo E. Pascual stated that this strategic expansion will strengthen the Philippines' export capabilities and foster economic growth.

The new facility in Clark is slated to be operational by the second quarter of 2026, increasing the company's tire output to 10 million units annually from its current production of over 9 million tires.

While a portion of the increased production will cater to the local market, the majority is intended for export, which is highly beneficial for the Philippine economy.

To further enhance the economic impact, the DTI aims to increase the local sourcing of raw materials for Yokohama's operations, as Philippine rubber production currently supplies about 50% of the company's needs.