Message from the Chairman
With annual exports over $43 billion, representing 61% of the total exports of the Philippines, the Semiconductor and Electronics Industry in the Philippines is at the exciting leading edge of technology. Our firms design and produce complex integrated circuits, components, and a broad array of advanced electronic modules that successfully compete in world markets. Most of the world’s automobiles, aircraft, smart phones, computers, IoT and electronic medical devices have components proudly made in the Philippines to the highest quality standards. SEIPI represents the interests of this great industry and leads the way to create a business environment that supports success, environmental sustainability, development of people, and support for the healthy development of our communities. I encourage you to join us in our mission. Together our industry will achieve new successes!
Message from the President
Greetings to our Industry Partners!
The year started with a bang, literally. Coming off a third consecutive record year in 2019 of $43.3 billion in exports, we saw 2020 met with the Taal Volcano eruption. Our member companies in the affected areas rallied to support their employees and communities by providing temporary shelter, food and essential supplies. Additionally, the rest of our members donated Php 435,000 to the Philippine Red Cross. These came on the heels of our industry donation of Php 1 Million to the Mindanao earthquake and the Typhoon Tisoy victims to PRC through the office of Cabinet Secretary Karlo Nograles. Thank you for the generous hearts of our members.
CITIRA has preoccupied most of our attention for the past year. We support the reduction of the Corporate Income Tax (CIT) from 30% to 20%, and we thank the legislators and executive branches of government for listening and improving the current CITIRA version in the Senate. There are just a few improvements we request to be reconsidered, all of which are in our latest Statement of Support.
Then came COVID-19! The industry growth forecast of 5% for the year is at risk because of the interrupted supply chain, both from the supply and demand sides. Thirty percent (30%) of our imported materials come from China and Hong Kong. That number increases to 53% if we include Taiwan and Korea. We continue to find alternate sources and work with government to survive this global crisis.
The good news is that we will survive these storms because of the resilience of our industry and our 3 million direct and indirect workers. We look forward to catching up and meeting the global product/hardware requirements for 5G, IoT, Smart devices, Wearables, AR/VR, SDV/ADV, Cobots, and other technologies. However, we know that success can only be achieved with the continued commitment and support of our members and partners in government, academe and the private sector, as one cohesive body with all of its parts working together as one. TAYO AY MAGKAISA.