Quantcast
Latest Stories

Seipi urges gov’t to ease concerns on power

By

The Semiconductor and Electronics Industry in the Philippines Inc. has urged the government to resolve uncertainties in the supply of electricity in the country to “dispel jitters among investors and enhance the country’s appeal as an investment destination.”

At the same time, having adequate, reliable power supply will allow the semiconductor and electronics sector to achieve its anticipated “industry turnaround this year,” Seipi said Tuesday in a statement.

According to Seipi, the industry was hampered not only by a global slump in trade and consumer demand but also by adverse local factors, such as the high cost of local electricity, which erodes the sector’s profitability and its ability to increase overseas deliveries.

Several Seipi member-companies have re-evaluated their expansion plans and others opted to expand in other locations outside the Philippines as a result of the continued increase in local electricity rates, the group said.

The local electronics industry currently accounts for half of the country’s exports and provides direct employment to 557,000 Filipinos. But for the past two years, this major source of Philippine exports and provider of employment experienced a flat growth.

“For 2013, Seipi is anticipating a turnaround as new factories start operating and selling overseas their products that include mobile phone chips and microprocessors for computers. The sector’s anticipated growth, however, hinges on the quality and cost of electricity in the country,” Seipi said.

The industry group also noted that the whole business community had been keeping a close watch on developments within the power and infrastructure sector, particularly the status of several big-ticket infrastructure power projects in the country, which are needed to assure reliable but inexpensive supply of electricity in the country.

Seipi said it was aware that some of these projects face legal and policy hurdles. However, this predicament only “dims our hopes that these projects could provide an immediate succor to concerns about the high cost and unreliability of electricity supply in our country.”


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , power sector , Seipi , semiconductor and electronics industry



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • 2 teenagers killed in Mlang, North Cotabato
  • No sympathy from North Korea over ferry disaster
  • 4 French journalists freed from Syria captors home
  • De Lima on Gigi Reyes: Let’s wait and see
  • South Korean relatives divided over whether to raise ferry
  • Sports

  • Pacquiao courtesy call to Aquino set for Monday
  • Nick Calathes suspension a reminder of supplement risk
  • Teague scores 28 as Hawks soar past Pacers in Game 1
  • Warriors beat Clippers in playoff opener
  • Pacquiao top Mayweather contender
  • Lifestyle

  • Britain’s baby Prince George visits Australian zoo
  • Noli Yamsuan, Cardinal Sin’s ‘official’ photographer: ‘I could smell the aftershave lotion of the Pope’
  • Simplifying and lightening life
  • Where to go for Easter night-out
  • Joe de Venecia visits the Queen Mother of Cambodia
  • Entertainment

  • Show-biz celebrities’ other choices of summer getaway
  • Why ‘Noah’ can’t dock his ark at Philippine theaters
  • Acclaimed artist goes wild while on holiday
  • Believing in this mermaid
  • Missing Xian
  • Business

  • Top-selling insurance agent opens her dream café
  • Connecting and transacting with one another
  • Building wealth for health
  • Why Mandaue Foam buys, rather than rents, space
  • A workplace of new possibilities
  • Technology

  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Opinion

  • Epiphany
  • Unpaid creditor vs distressed debtor
  • Moving on
  • From culinary desert to paradise
  • Response to China: ‘Usjaphil’
  • Global Nation

  • Asia seeks Obama’s assurance in territorial spats
  • Cesar Chavez movie sparks memories of Fil-Am labor leaders
  • Filipinos in US poised for success
  • Visas for priests and other faith leaders
  • DOH to continue tracking co-passengers of OFW infected with MERS virus
  • Marketplace