Shangri-La’s Mactan Resort and Spa, Cebu
20 April 2012
President Benigno S. Aquino III graced the 17th World Electronics Forum (WEF) and the 108th General Membership Meeting of the Semiconductor and Electronics Industries of the Philippines Inc. (SEIPI) at the Mactan Shangri-La Island Spa and Resort in Lapu-Lapu City, Cebu.
In his keynote address, the President thanked the semiconductor and electronics industry for being active partners in promoting growth in the country despite suffering from the effects of a global economic slowdown, which also pulled the 2011 GDP growth rate.
“You have been able to thrive, and not merely survive, in the Philippines despite the limitations presented by the business environment, which cannot be separated from the political milieu Now that the roadblocks on the path to progress are finally removed, I can only imagine the greater heights your industry can achieve,” he said.
President Aquino also remarked that his government is determined to meet any challenge that might arise in the industry with equal resilience and fervor and they can continue to count on the administration’s support.
According to SEIPI President Ernie Santiago, the worth of investments that came in last year was a record high of $2.4 billion and they are looking at a double digit growth this 2012.
The industry, the biggest export industry in the Philippines, was able to hire more Filipino workers and direct employment grew by six percent from 500,000 in 2010 to 530,000 in 2011.
The World Electronics Forum is an annual gathering of industry leaders from different industry organizations worldwide to exchange information and discuss ways to adapt and align themselves with the global business and technology vector.
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