DTI backs electronics industry development

RELEVANT industry players should continue partnering with the Philippine government in developing further the electronics industry, being one of the primary sources of economic growth today, the country’s trade chief said.

Stressing the robust Philippine economy and a booming global market, Department of Trade and Industry (DTI) Secretary Ramon Lopez outlined government initiatives to strengthen the electronics industry, as well as DTI’s partnership with industry stakeholders.

The initiatives include projects that will move the industry’s capabilities to higher value activities, as well as help identify products and technologies in the developing sectors of electronics in the next five years. DTI and the Board of Investments (BOI) also have active partnerships with other institutions to forward capacity-building programs and exchange of best industry practices.

In his keynote speech at the 14th Philippine Semiconductor and Electronics Convention and Exhibition (PSECE) on 21 June, Lopez said that closer industry-academe linkages can lead to a stronger electronics industry that will later on “generate inclusive economic growth, reaching those at the bottom of the pyramid.”

As one of the pillars of the country’s industrial growth and one of the top 12 industry priorities of the current administration, the electronics industry is a top export performer with a 51.3% share of total exports in 2016 (worth $28.8 billion). The industry has also generated about 2.6 million direct and indirect employments as of 2015.

He also mentioned that as the Philippines chairs Asean 2017, the government’s priority is to lead an inclusive, innovation-led growth, which means working to create an enabling environment to develop micro, small, and medium enterprises (MSMEs), and prepare them to become globally competitive, innovative, inclusive and resilient.

“There is a very strong role that innovation plays in helping and enabling a lot of our countrymen to develop an innovation mindset, culture and capability, for them to also have equal chances to success and move up in life,” Lopez said.

The trade chief noted the need to focus on key areas affecting MSME growth, including the promotion of productivity, technology, and innovation, as well as making these available and accessible to MSMEs.