BIZ BUZZ: Toyota rules Port of Batangas

Toyota Motor Philippines Corp. (TMP) is revving up government coffers after topping the list of revenue contributors in Batangas.

The Bureau of Customs (BOC) Port of Batangas named TMP as the leading revenue contributor in the six months ending June, remitting P24.09 billion, a 29 percent increase from a year ago.

Its remittance accounted for 35.7 percent of Top 10 importers‘ contribution during the period.

“Motor vehicles and fuel products continue to be the primary revenue-generating commodities, solidifying the Port of Batangas’ role as a crucial trade gateway for the automotive and energy sectors,” the company said.

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As one of the companies holding an Authorized Economic Operator Level 2 accreditation from the BOC, TMP enjoys expedited customs clearance and dedicated processing lanes, enhancing business operations and production capacity.

TMP appears to be driving not only the growth of the automotive industry, but also economic growth with its significant revenue contribution.