Sunday, October 12, 2008 Arroyo cites electronics industry growth in Clark By Reynaldo G. Navales
CLARK FREEPORT -- President Gloria Macapagal-Arroyo has expressed optimism on the growth of the electronics business in the Freeport, citing the expected upsurge in exports brought about by the $1 billion expansion project of Texas Instrument (TI).
Arroyo said the electronics sector has so far invested $5 billion during her term. "And the peak, the rise in investments, was with Texas Instruments which, by itself, is pumping more than a billion dollars for a new operation in Clark, not to mention its new activities in Baguio."
TI is the biggest single investment in the economic history of Clark. It designs and manufactures analog, digital signal processing and chip technologies that help customers develop products for the affordable mobile phones and classroom projectors that support remote learning, to prosthetic devices.
There are about 36 electronic firms in the Freeport having a total investment commitment of P5.07 billion for the next five years. The firms are expected to employ more than 11,714 workers within the same period.
Among the leading electronic firms in terms of export are Nanox, Philippines, SMK, LNK, Amertron, and Poongsan.
Semi-conductor firms also see the advantage of Clark because of its direct access to air cargo facilities.
The world's largest air cargo firm - the United Parcel Services - is presently located inside the Freeport.
Aside from this is the accessibility of Clark to seaports in Manila and Subic Bay Freeport Zone in Zambales.
CDC president Benny Ricafort said that another advantage of Clark is the competitive power and utility rates and other tax incentives.
Ricafort also cited the availability of well-trained and highly skilled labor force fluent in the English language.
President Arroyo meanwhile hoped that the Philippine economy will achieve the economic rebound it is projecting by next year with the help of the semi-conductors firms.
"We have been working tirelessly as we did in 2001 to address challenges arising in the global economic front," she said.
Arroyo noted that the present economic turmoil has been made worse with the rise in oil and food prices.
She said the effect of the US economic crunch is worldwide and that no nation is insulated from it.
She, however, stressed that the Philippines is in a much better position to face the challenge as "our economy is more resilient today."
