Semicon, electronics eye $40B revenues

THE Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi) targets to hit the US$40 billion mark for the industry’s export revenue amid the US-China trade tensions.

Dan Lachica, president of Seipi, told SunStar Cebu that the industry continues to thrive as demand for electronic components rises because of the digital age.

“Last year, we’d had a record year notwithstanding the US-China trade war because we cater to the global market. Whether it’s China, US or Europe, there’s global demand. Because you have an emerging technology in big data and self-driving cars, they need electronic components; that’s what buffered the US-China trade war,” he said.

For 2018, the industry had an export revenue of $37.6 billion, the highest in the past 40 years, Lachica said.

“That’s back to back to the year 2017 where we were at $36.5 billion,” he said.

He said they’re expecting a three percent growth for 2019 but they’re also on the lookout for any development amid the US-China trade tensions.

“This year, if that escalates we might see an impact in our industry because there are suppliers in the Philippines that provide parts to US companies. So if the trade war persists, we’re expecting to see an impact this year so we’re hoping that it won’t escalate,” Lachica said.

With the government’s flagship programs like the ease of doing business and the veto of President Rodrigo Duterte on the security of tenure bill, he said the industry is on the right track as it continues to generate income and jobs for the people.

“In terms of human resources, we are very thankful to the President on the ease of doing business and security of tenure because our industry is very seasonal and it’s going to hurt the competitiveness of the industry if you’re gonna eliminate that altogether,” he said, referring to the move to end contractualization.

On July 30 to 31, 2019, the Seipi organized the Cebu Semiconductor and Electronics Convention and Exhibit which is the premier industry event in the Visayas and Mindanao region.

It featured 23 exhibitors, who took part in product presentations, business matching meetings and a networking night.

Part of the convention was the parts localization station where it featured a reverse trade fair, where local companies are encouraged to visit to find opportunities to supply.

 

 

Source: https://www.sunstar.com.ph/article/1816717

 

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