Attaining the $53.7-billion target for the local electronics industry may be tough given the global situation, according to the Semiconductor Electronics Industries in the Philippines Foundation Inc. (SEIPI). Know more:
ATTAINING the $53.7-billion target for the local electronics industry may be tough given the global situation, according to the Semiconductor Electronics Industries in the Philippines Foundation Inc. .
In particular, Lachica said, the global problems plaguing the local electronics industry are the Russia-Ukraine war, “soaring” costs of logistics, high cost of power and labor. The Seipi chief said, “We’ll keep a close watch on the events but right now we’re still optimistic we can get to about 5-percent growth for the year.”
In 2022, SEIPI said it recorded $49.09 billion worth of exports, a 6.88-percent annual growth from 2021. Moreover, Lachica said, “I’m hoping again for proactive government conversations with them will help them understand what the issues are.”
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