Electronics sector cites concerns to exports growth

MANILA, Philippines (Xinhua) - Electronic exports can expand a single-digit only by year end due to some concerns, such as the issue on power, industry leader said today.  

"Our industry sees 2014 ending with a single-digit export growth as we continue to address concerns with power supply and cost, supply chain reliability, and efficient infrastructure," said Danilo Lachica, president of the Semiconductor and Electronics Industry of the Philippines Inc. (SEIPI) during their annual meeting.

SEIPI is expecting 5-8 percent exports growth this year.

But Lachica said these concerns should not stop the industry and the government from getting more investments as he assured President Benigno S. Aquino III, who was the keynote speaker in the event, that his sector would do its share to attain the goal.

Aquino, in response, said that his administration has been trying to address the concerns of electronics sector.

In the case of the high power rates, he said Department of Energy formed a Task Force Electricity, whose goal is to harness the ideas of stakeholders, look at all the cost components of electricity bills, and ultimately reduce the price of power.