The Semiconductor and Electronics Industries in the Philippines Inc. (SEIPI) said it is currently crafting a new roadmap to allow the sector to go into electronics services in addition to traditional manufacturing.
SEIPI president Dan Lachica told the Philippine News Agency that the industry should diversify to electronics services like integrated circuit (IC) design and research and development as a new revenue source aside from manufacturing.
?You are not producing but it?s still electronics activities, and you?re still going to produce the electronic industries exports,? Lachica said, adding that new industry roadmap is targeted for completion this year.
The SEIPI chief said the new electronics industry roadmap would target higher revenues and more job generation. ?We?re evaluating what services or products will be included in the roadmap,? Lachica added.
?We?re aiming for higher targets — higher value, higher employment, greater revenue,? he stressed, noting that moving up the value chain by focusing on electronics services will drive higher revenues for the sector.
In 2016, export revenues of the industry slipped by 0.1 percent to $28.44 billion. But in the first four months of 2017, electronics exports bounced back with growth of 11.6 percent year-to-date amounting to $10.1 billion.
Lachica also said SEIPI is expecting to see the industry return to the $30-billion revenue level if exports growth will be maintained at 5.0 percent. — Kris M. Crismundo, PNA