#SEIPI

(SEIPI) indicated that up to USD 3.6 billion worth of potential investments in the electronics industry were set to be committed elsewhere. SEIPI had attributed this "capital flight" to the current policy trend implemented by the Filipino government. And there is another USD 400 million for a total of 25,000 workers that we may lose," said SEIPI President Danilo "Dan" Lachica. SEIPI reported last February that the electronics sector surged by nearly 13 percent on a yearly basis compared to its 2020 values with USD 45.92 billion worth in exports as of 2021. Nonetheless, SEIPI cautioned that existing "regulatory roadblocks" might hamper the robust growth of the electronics industry, which they forecast to be another double-digit showing at 10 percent for the entirety of 2022. In response to this, Meralco, the franchise that hosts many factories of SEIPI's member companies, promised that the company will do whatever it takes to support the main driver of the country's exports. "The marching order from Meralco's leadership is to help SEIPI in the best way we can," said Meralco First Vice President—Customer Retail Services and Chief Commercial Officer Ferdinand O. "This dialogue will help us further improve our service to your organization and of course support the industry’s growth prospects." Geluz added that the Smart Grid could partly address SEIPI’s concerns over the cost of electricity in the country. Read more in our articles including "SEIPI: PH gov't policies losing country over $3 billion in electronics investments" and "Meralco to develop Smart Grid to help electronics industry".