The Semiconductor and Electronics Industries of the Philippines Inc. (SEIPI) sees slower growth in 2023 due to lower global demand.
Dan Lachica, SEIPI president, in a text message said the industry sees a 5-percent growth in revenues this year from a 7 percent increase in 2022.
While the industry missed its 10-percent growth goal in 2022, it accounted for $49.09 billion of the total exports or about 62.27 percent of the $ 78.84 billion total Philippine commodity shipments.
Lachica said worldwide chips supply, particularly in automotive, will remain a concern in 2023.
“The semiconductor and electronics industry retained its position as the country’s top commodity exporter. Our industry, together with its 3 million direct and indirect workers and opportunities brought by the developments in the global industry, remains as a significant driver of economic growth that can support our country in sustaining its growth momentum,” Lachica said in a statement released ahead of yesterday’s general membership meeting.
After taking its major step by successfully localizing P321.3 million worth of imported parts and materials last year, SEIPI’s integrated circuit (IC) technical working group targets to locally source more items this year, focusing on chemicals, plastics, and packaging materials. They plan to achieve this by expanding the parts localization in the Visayas and Mindanao regions, where some of the SEIPI members are located, and partnering with other industry organizations.
The group also revealed it has identified additional products and advanced technologies to include in its roadmap and have the potential to move the industry up the global value chain.
The roadmap includes plans to set up an IC design Training Laboratory and a lab-scale wafer fab as members aim to develop capability and capacity for IC design in the industry and prototype builds.
