ASEAN KEY DESTINATIONS
Philippines Electronics industry aims to double exports
Also, SEIPI aims to attract $2-billion worth of investments every year, which can be done "if the Philippines would have a more conducive business environment," Santiago said.
At the end of October, fresh investments and expansion projects in the sector-which contributes almost two-thirds of the country's merchandize exports-reached about $734 million, or almost double the $484.16-million last year. Santiago said hitting $1-billion this year is possible.
The SEIPI official said the Aquino administration is "full of promise," thus giving much hope to semiconductor and electronics exporters in the medium term.
However, the government still has some work to do, like addressing perennial investor concerns such as the high cost of power, Santiago said.
He said SEIPI's roadmap aims to increase the sector's production capacity through additional investments as well as by moving up the value chain.
The industry group would meet with the departments of Science and Technology and Trade and Industry before this year ends to jointly develop a technology roadmap that would improve the capabilities of semiconductor and electronics firms and workers, he said.
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