Electronics sector to benefit from AI, new tech: SEIPI


Posted at May 31 2023 10:47 AM

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The Philippines' electronics sector is optimistic for growth this year despite global headwinds as it stands to benefit from new technologies such as AI, Semiconductor and Electronics Industries in the Philippines Foundation, Inc (SEIPI) President Dan Lachica said on Wednesday.

In an interview with ANC, Lachica said they expect a growth of at least 5 percent this year despite an expected lower demand in Q1.

"We play in the global market in terms of electronics demand and whenever you have new technology, whenever you have new devices, the electronics products will be there," Lachica said.

"We're projecting 5 percent growth this year... By and large, it's conservative but we think it's doable," he added.

Lachica said the group was still hoping to convince President Ferdinand Marcos Jr. of the need to review the country's incentive rationalization efforts to be at par with its regional peers and attract more foreign investments.