Electronics makers off to woo US investors

MANILA, Philippines — The Department of Trade and Industry (DTI) and the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) are set to visit the US next week to promote trade and investment opportunities in the electronics sector in the country.

In a statement, the DTI said the mission, composed of foreign and Filipino electronics companies in the Philippines, would be attending the Consumer Electronics Show (CES 2020) which would be held in Las Vegas, Nevada.

Apart from the DTI, also joining the mission are the Department of Science and Technology (DOST), Philippine Economic Zone Authority (PEZA),  Airfreight 2100 Inc., Airspeed International, De La Salle University, Integrated Micro-Electronics, Ionics EMS Inc., LGC Logistics, Macro Wiring Technologies Co. Inc., Manila Electric Co., PLDT Inc. and Susumi Philippines.

CES 2020 serves as the global stage for next-generation technologies which include artificial intelligence, augmented reality/virtual reality, 5G, internet of things, automotive, health and wellness, and entertainment content.

“The CES 2020 is an ideal venue to engage with global electronics industry players and invite them to partner with the Philippines. ?Promoting the Philippine electronics industry is part of the Philippine Export Development Plan 2018 to 2022, wherein the government focuses on developing industries where the Philippines has competitive and comparative advantages,” DTI Secretary Ramon Lopez said.

By organizing the mission, he said the DTI is doing its part to help the country’s export performance.

“Moreover, we continue to strengthen existing prospective opportunities from trading arrangements, such as the Generalized System of Preferences (GSP) with the US. ?Trade deals like the GSP are part of the DTI’s comprehensive support to strengthen industries and create more jobs and employment opportunities for Filipinos,” he said.

GSP eliminates duties on US imports from designated beneficiary countries. ?

For his part, SEIPI president Dan Lachica said the country’s electronics industry expects to benefit from participating in the CES 2020. ?

“We have a strong trade relationship with the US, as the Philippines is a significant part of the product supply in the global electronics market.? Our industry offers full turnkey services from procurement to assembly, and is supported by a dexterity in supply chain management.? We have excellent quality management programs with a full range of certification in global quality standards.?

We are delighted to present our seasoned engineering talent with highly skilled individuals who are productive, responsive and proficient in English. We have the DTI as a key industry enabler, together  with the DOST, the PEZA, ?the academe, and industry players collaborating in the ?Product and Technology Holistic Strategy roadmap to drive our industry up the value chain,” he said.

Among the activities to be conducted during the mission are a seminar on the Philippine electronics industry, country presentation during the World Electronics Forum, individual client meetings, business forums, networking activities, meeting with government agencies, and company and facility visits in Silicon Valley, California.

?In 2018, electronics remained the Philippines’ top exporter, accounting for 55 percent of the total merchandise exports amounting to $38.2 billion.

In that same year, the US was the Philippines’ second largest market with a growth rate of 12.69 percent, which was valued at $5.13 billion.

 For January to October 2019, Philippine electronic products exports accounted for a 56.3 percent share of the total exports and were up 2.7 percent to $33.2 billion.

As of the end of October, the US also ranked the second biggest Philippine market for electronics with a 15.5 percent share amounting to $5.2 billion, 20.7 percent higher than the $4.3 billion a year ago.