THE SEMICONDUCTOR and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) has set a 10% export growth target for this year, a sign of the manufacturers’ optimism despite the ongoing coronavirus disease 2019 (COVID-19) pandemic. READ:
SEIPI Chairman Glenn Everett said during a general membership meeting on Thursday that the board of trustees has a “generally optimistic” growth outlook for 2022.
“The board of trustees is generally optimistic about our growth in 2022. But they note that it depends very much upon the improvements to inbound and outbound logistics flows, to the health of the supply chain, to the health of the population, and to the continuing opening up of the country,” he added.
Semiconductors accounted for the bulk of electronics exports at $31.15 million, followed by electronic data processing at $7.35 million, and consumer electronics at $1.05 million. “The task force should analyze the business environment and incentive structure of other Association of Southeast Asian Nations , because these countries are the Philippines’ competitors for new investment,” Mr. Everett said.