Yokohama Tire expands P3.5B facility, set to boost exports and create jobs

The Department of Trade and Industry (DTI) announced a P3.5-billion expansion by Yokohama Tire Philippines, Inc., expected to enhance Philippine exports and create jobs.

Trade Secretary Alfredo E. Pascual highlighted the project's potential during Monday's groundbreaking ceremony in Clark Freeport Zone, Pampanga, emphasizing its role in strengthening export capabilities and providing employment opportunities.

Yokohama is set to break ground on a new facility that will be operational by the second quarter of 2026, increasing its tire output from over 9 million to 10 million units.

The expansion is anticipated to generate approximately 500 new jobs in addition to the company's current workforce of 3,000 employees.

Mr. Pascual emphasized the importance of local raw material sourcing, particularly natural rubber production, which currently meets about half of Yokohama's requirements.

The DTI plans to assist Yokohama in increasing its purchases of domestic natural rubber from producers mainly located in Mindanao.

This initiative aims to further contribute to economic growth by boosting local industries and supporting the country’s export market.