Electronics manufacturers eye $100 million annual shipments by 2030

ABS-CBN News

Posted at Jun 11 2018 09:37 AM | Updated as of Jun 11 2018 09:43 AM

A worker of Ayala Corp's Integrated Micro-Electronics Inc uses a microscope at an electronics manufacturing assembly plant in Binan, Laguna south of Manila, Philippines April 20, 2016. Erik De Castro, Reuters

MANILA -- Filipino electronics manufacturers hope to triple annual exports to $100 billion by 2030 by catering to demand from artificial intelligence, big data and driverless cars, the head of an industry group said Monday.

Electronics is the country's top export, accounting for nearly half of shipments in April, according to the Philippine Statistics Authority. Electronics exports for the month grew 5.5 percent from the previous year.

"We don't want to sit on our laurels. We want to continue exploring other markets and other partnerships," said Semiconductor and Electronics Industries in the Philippines Inc president Dan Lachica.

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On Monday, SEIPI will sign a memorandum of understanding with Angersfrenctech as it looks to Europe for expansion. France currently accounts for just 1 percent of Philippine electronics exports.

Up to 70 percent of electronic exports are composed of semiconductors, Lachica said, adding Filipino manufacturers want to "move up the value chain."

"We want to focus on end product and sub-assemblies that support these emerging technology trends," Lachica said.