MANILA, (PNA) — President Benigno S. Aquino III has cited the Philippine semiconductor and electronics industry for its contribution in helping the government revolutionize the country’s economic growth amid the global crisis.
In his message keynoting the 12th Chief Executive Officer Forum and 114th General Membership Meeting of the Semiconductor and Electronics Industries in the Philippines, Inc. (SEIPI) held at the Solaire Resort and Casino Manila in Paranaque City on Monday, the Chief Executive said the semiconductor and electronics industry continues to be a massive contributor to the country’s economic progress.
The event which has for its theme “Advancing Manufacturing Technology for Inclusive Development” aims at helping the government make the country a competitive business environment for semiconductor and electronics technology.
“Despite a year-on-year decline in the electronic industry’s share in total exports, I’m told an additional 31,000 Filipinos found employment with you in 2012,” the President said.
The President commended the semiconductor and electronics industry for its impressive performance in the past years for bringing in more investments to the country.
“There is also the ten-percent increase in the investments your industry recorded, from 2.45 billion dollars in 2011 to 2.7 billion dollars in 2012. And I am told that there was also an increase in the importation of materials for the manufacture of electrical equipment in May and July this year—maybe in anticipation of a higher demand for electronics in the world market,” President Aquino said.
“All signs point to your confidence—to your determination to move forward, despite the setbacks you might have encountered. So, allow me to once again thank you for your faith and optimism in our people and our country,” he said.
Also in attendance were Interior and Local Government secretary Manuel Roxas, Science and Technology secretary Mario Montejo, Presidential Communications Operations Office secretary Herminio Coloma Jr., Technical Education and Skills Development Authority Director-General Joel Villanueva, SEIPI President Dr. Dan Lachica, among others.
Electronics is acknowledged as the main driver of the Philippine economy as it accounts for US.56B of the country’s total exports for 2012. With the organization’s member companies responsible for over 40% of total electronics exports, this unequivocally makes SEIPI a major economic force in the country.
The SEIPI is the leading and largest organization of foreign and local semiconductor and electronics companies in the Philippines.