Electronics Industry Exports to Hit $30 Billion
Exports of the electronics industry is expected to increase by 20 percent this year to $30 billion from $24 billion last year given the strong position of the local industry.
Francis I. Ferrer, chair of the Semiconductor and Electronics Industries in the Philippines Inc. (SEIPI), said the increase would be accounted for by the new and expansion projects, which operations are going to be on stream starting this year.
"The new and expansion projects would bear fruit in the year 2000," Ferrer said.
In addition, Ferrer said the Philippines is gaining headway in its export markets in the US, Europe, Japan and Association of Southeast Asian Nations.
Exports of the semiconductor sector will account for the biggest growth in the electronics industry, Ferrer said.
The growth in semiconductor exports, Ferrer said, would be largely due to two large companies Texas Instruments Philippines Inc. and Intel Philippines.
Texas supplies 70 percent of the world demand for signal processors in cellular phones.
On the other hand, Intel is also producing Pentium II and III for computers.
Other semiconductor firms whose expanding operations are going to be on stream this year includes Amkor Anam, Toshiba, Fujitsu, Analog Devices, Cypress, Rohm, Sanyo and Motorola. …