Aquino sees rosy future for semiconductor, electronics industries

April 20, 2012 10:28 pm 

LAPU-LAPU CITY, April 20 — President Benigno S. Aquino III said he sees a brighter future for the country’s semiconductor and electronics industries as the reforms he has initiated in government start to bear fruits.

Addressing the general meeting of the Semiconductors and Electronics Industries of the Philippines Inc. (SEIPI) and the 17th World Electronics Forum (WEF) at the Mactan Shangri-La Island Spa and Resort here Friday, the President said the industry was able to thrive despite the gloomy business environment in the past.

“And now finally the stars are aligning, now that the road block in the path of progress is finally removed I can only imagine the greater heights your industry can achieve that you built in the momentum that the entire country is experiencing right now,” he said.

During the initial year of the Aquino administration, SEIPI’s data shows the tremendous industry growth in 2010 and 2011. To sustain this growth momentum, the President said his administration initiated several reform measures to support the industry.

The present educational system is designed to make Filipino workers more competitive at a higher value chain, the President said. The K12 system, which will begin this June is a long-term solution that can address the students' goals to become globally competitive, he said.

Another is the targeting system that enables the Filipino workforce supply specialists to industries that demand them, the chief executive said.

The government has also earmarked P50 million for Tesda’s training-for-work scholarship program to train more than 9,000 workers in partnership with SEIPI, the President said.

As the country develops its infrastructures in the coming years, it would mean greater industry expansion for the benefit of the people as well as the businesses, President Aquino said, noting that this will go hand in hand with the effort of the administration to reform the bureaucracy.

“All of these efforts are bricks that build upon the foundation of a truly, just and equitably progressive society. Every pillar in our economic agenda includes inclusive growth, job generation, empowered enterprises, solid investors’ confidence—all of these are built on the bedrock of a stable system where outcomes are predictable.”

“We build these through good governance, by setting good examples and not by being influenced by bribes or favors or illogical decisions.”

These reforms are initiated through instilling integrity across all sectors, he said by making sure that actions have consequences and that those who have erred will be held accountable.

At the same time, the President highlighted the Filipinos’ ability to rise from every challenge, noting that his government will face future challenges with a strong determination to succeed.

“My government is determined to beat any challenge that might arise in your industry with equal resilience and equal fervor. You can continue to count on my administration’s active support on semiconductor and electronics industries,” he said.

Last year, the Philippine electronics industry accounted for more than US$ 24 billion of exports or more than half of the total Philippine exports, and invested US$ 2.4 billion in the country.

It is the biggest export industry in the Philippines having a direct employment of 530,000, which include engineers, technicians and operators. More than four million Filipinos benefit from this sector. (PNA)



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