PHILIPPINES

GM Proposes $1-Billion Plant: A top government official, Board of Investments Director Rosario Estacio, told reporters in Manila that the U.S. auto maker has submitted a proposal to assemble 150,000 cars a year and produce major parts, including engines and transmissions, for export throughout Asia. Estacio quoted GM Overseas Operations Manager Richard Papscoe as saying in a letter that Detroit-based General Motors Corp. also plans to enter the domestic market, either through a joint venture with existing car assemblers or through the high-end market. GM pulled out of the Philippines in 1984 because of the country’s financial and political turmoil.