Electronics exports up; PGMA assures industry of full support
Koronadal, South Cotabato (12 October) -- Amid the continuing surge of investments in the electronics industry, President Gloria Macapagal-Arroyo assured today the sector of full government support, particularly in terms of insuring that the country’s business environment remains attractive to investors.
The President made the assurance during the roundtable discussion with electronics industry stakeholders in Malacañang’s Kalayaan press briefing room this morning.
"The government will do whatever it can with regard to the policy environment in order to attract more investments," the President said as she expressed elation over reports that total investments in the electronics industry in the first half of the year reached $310 million (P15.5 billion), a 15 percent increase compared to the same period last year.
"We have good news. Our leaders in the electronics industry reported to me that there is a 15 percent increase in investments in electronics for the first half of 2006 and exports in electronics have doubled compared to last year’s," the President said.
She said that the high technology industry, which includes the information technology, business process outsourcing (BPO) and electronics have contributed a big chunk to the government’s coffers and her target of creating six to 10 million jobs by 2010.
"Electronics is one high technology that is fast progressing in the Philippines…our highly skilled and competitive workers contribute much to the growth of this sector," the President said.
"For every Nokia cellphone, there is a digital microchip that is proudly made by a Filipino worker at Texas Instruments (at the Baguio Export Processing Zone)," she said, adding that 80 percent of Sony Ericsson and Siemens cellphones are made in the country.
Trade and Industry Secretary Peter Favila said that for every P1 million investment in the electronics sector, one new direct job is created.
"The $310 million new investments in the electronics industry for the first half of 2006 translate to 15,000 new direct jobs for Filipinos," Favila said.
The President said if the trend continues in the second half of 2006, 30,000 new direct jobs would be created in the electronics industry.
The country’s exports in the first half of 2006 reached $26.6 billion, with electronics products accounting for two-thirds of the total proceeds. (PIA 12) [top]