SEIPI keeps export growth target despite truck ban
MANILA, Philippines - The Semiconductor and Electronics Industries of the Philippines Inc. (SEIPI) is keeping its export growth target for the year, despite the Manila truck ban.
SEIPI president Dan Lachica said it is maintaining the 5 percent export growth target for the year.
"We're still hoping a favorable resolution but we're not changing projection at this point. We have the same assumptions we indicated before and we're not reflecting the truck ban," he said.
The Manila City government had implemented a daytime truck ban from 5 a.m. to 10 a.m. and 3 p.m. to 9 p.m., as a measure to ease traffic.
SEIPI had earlier warned of negative effects of the truck ban on its member companies, such as "line shutdown" if the materials do not arrive on time, as well as possible loss of sales due to failure to meet delivery dates.
Most of their member companies depend on Manila's ports, where their raw materials are shipped in and their products are shipped out.
Lachica admitted SEIPI has not made any growth projections for 2015 and 2016.
"There is still tension in ASEAN and we do not know how the truck ban will be resolved. The power issue is still a big problem," he said.
SEIPI, he said, wants the government to come up with a road map to address power and cost competitiveness issues.
He lamented that the Philippines attracts a smaller amount of investments compared to ASEAN neighbors.
"We may have investments coming in but last year was only a little over $900 million as opposed to billions in other countries. That pales compared to what neighboring countries are getting," Lachica said.
SEIPI targeted $2.5 billion in investments for 2013.