PH ELECTRONIC EXPORTS STILL BRING HOME THE DOUGH

The Philippines’ cumulative exports of electronics reached $35.34 billion in September, growing by 4.71 percent, retaining the industry’s position as the country’s top commodity exporter according to the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (Seipi).

In a statement on Friday, the trade association said that it continued to advocate for the industry’s well-being by voicing out legislative and regulatory concerns, and providing recommendations to the government.

“Seipi met with the Department of Trade and Industry Secretary to discuss the prevailing issues in the industry, its impact on foreign investments, and what can be done to prevent further capital flight,” the group said in a statement.

For instance, the group said it was advocating that nonmanufacturing jobs registered under the Philippine Economic Zone Authority be allowed to adopt a work-from-home arrangement without the threat of losing their fiscal incentives.

“Despite the road blocks, we are optimistic that these challenges can be overcome through close collaboration between the public and private sector, and we look forward to the new heights that we can reach in 2023,” Seipi said.

Earlier in September, Seipi said six of its member firms have successfully localized 32 items in its list of products and components, which are essential in the industry’s production chain.

It grouped these items into three categories, with the first one including face masks, packing materials, uniforms, clean room wipes and chemicals.

The first category has a total value of P33.09 million.

Category two is valued P13.1 million.