Monday, July 4, 2022
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business IT & Telecom

Semiconductor makers put off $1-b investments

Othel V. CamposbyOthel V. Campos
May 30, 2019, 7:55 pm
in IT & Telecom
Reading Time: 2 mins read
A A
73
SHARES
Share on FacebookShare on TwitterShare on Email

Semiconductor and electronics companies put off $1 billion worth of potential investments in the Philippines amid the uncertainties caused by the proposed Tax Reform for Attracting Better and High-Quality Opportunities, or Trabaho bill, an industry group said Thursday.

The Semiconductor and Electronics Industries in the Philippines Inc. said prospective investors had a change of heart after learning the unclear status of the industry. The Trabaho bill, which represents the second package of the tax reform program, is being debated in Congress.

The bill proposes to overhaul the tax incentives given to companies and reduce the corporate income tax from 30 percent to 25 percent.

“We’ve been in constant communication with the Senate and Congress to vent our concerns and we intend to continue that kind of engagement with the current and the newly-elected public officials,” SEIPI president Dan Lachica said in a news briefing at the sidelines of the 15th Philippine Semiconductor and Electronics Convention and Exhibition at SMX Convention Center in Pasay City.

Lachica said with about $1 billion worth of potential investments gone, the country also lost the opportunity to create 10,000 direct jobs.

ADVERTISEMENT

SEIPI asked the government to keep the current set of tax incentives given to locators intact.  

The group said its proposal to increase the gross income earned (GIE) ratio to 7 percent from 5 percent could be a crucial factor for investors to stay if the reduction of the corporate income tax to 18 percent was not feasible.

Lachica said the proposed 7 percent in GIE would be crucial in sustaining the support for the government’s “Build, Build, Build” infrastructure program.

The industry group said given the current lackluster foreign demand, electronics exports were expected to grow by just 3 percent in 2019, slower than the performance in the previous years.

SEIPI said the industry was even bracing for a possible flat growth this year, as the first-quarter figures were in the negative territory.  Lachica said there were indications that exports could improve in the second half.

The shrinking demand was partially due to declining orders for some smartphone parts.

Latest data from the Philippine Statistics Authority showed that merchandise exports fell 3.1 percent in the first quarter from a year ago.  Electronics, which comprised more than half of merchandise exports, went down 1.7 percent to $8.8 billion in the three month period.

Tags: SEIPISemiconductor and Electronics Industries in the Philippines Inc.Tax Reform for Attracting Better and High-quality OpportunitiesTrabaho bill
ADVERTISEMENT
Othel V. Campos

Othel V. Campos

Related Posts

Coverge ICT expands fiber network in Bicol

byDarwin G. Amojelar
June 28, 2022, 6:15 pm
0
179
Converge calls government attention on damaged cables, works overtime to avoid service disruption

Converge ICT Solutions Inc. said Tuesday it expanded its fiber connectivity in the Bicol region, aiming to nearly double its...

Read more

Transpacific proposes micro-satellite project

byDarwin G. Amojelar
June 27, 2022, 9:15 pm
0
189
Banaag assumes post as Bright Kindle director

Transpacific Broadband Group Int’l Inc. said Monday it plans to submit a proposal to the government to build a micro-satellite...

Read more

Local startup uses satellite to provide Internet services

byDarwin G. Amojelar
June 25, 2022, 7:40 pm
0
220
Bataan-Cavite bridge seen to boost real estate projects

Filipino technology startup Quicksilver Satcom Ventures, funded by social impact venture firm Ignite Impact Fund—seeks to increase internet penetration in...

Read more

Anti-graft body revokes ruling granting radio waves to NOW

byOthel V. Campos
June 22, 2022, 8:25 pm
0
298
ARTA to prepare localized reporting on doing business

The Anti-Red Tape Authority revoked a declaration granting News and Entertainment Network Corp. and Now Telecom Company Inc. (NOW) automatic...

Read more

Globe Telecom preparing P32-b stock rights offering

byDarwin G. Amojelar
June 20, 2022, 8:25 pm
0
286
How to throw a hybrid holiday party

Globe Telecom Inc. said Monday it will raise P32 billion from a stock rights offering to expand its mobile and...

Read more

PLDT Global signs deal with Reloadly

byDarwin G. Amojelar
June 19, 2022, 6:35 pm
0
291
PLDT Global signs deal with Reloadly

PLDT Global said it teamed up with Reloadly, an international airtime top-up and digital goods solution, to give businesses and...

Read more

Stories you may like

  • Denying Villafuerte justice

    Starting on the wrong foot

    2558 shares
    Share 1023 Tweet 640
  • Of course, it was BBM’s project

    33117 shares
    Share 13247 Tweet 8279
  • The next, now, or never in new romance film ‘Ngayon Kaya’

    2309 shares
    Share 924 Tweet 577
  • Herbosa will make an excellent DOH Secretary

    2022 shares
    Share 809 Tweet 506
  • Property relations in marriage

    1121 shares
    Share 448 Tweet 280

Print Edition

View More

Recent Posts

  • MARCVENTURES HOLDINGS, INC.: Notice of the Annual Stockholders’ Meeting
  • Ookla: 5G in PH making significant advances
  • Enjoying everyday wellness in Cebu
  • Saudi welcomes 1 million for biggest hajj pilgrimage since pandemic
  • Covid-19 misinformation bolsters anti-vaccine movement
  • Don’t look up: no fireworks for some cities on US independence holiday
  • London marks 50 years of Pride
  • In Cuba: sleeping fully clothed in case of building collapse

Advertisement

Latest News

Don’t look up: no fireworks for some cities on US independence holiday

byAFP
July 4, 2022, 12:00 pm
0
146
Don’t look up: no fireworks for some cities on US independence holiday

Fireworks buffs in some US cities are in for a dud of a July 4 holiday as supply chain disruptions...

Read more

London marks 50 years of Pride

byAFP
July 4, 2022, 11:30 am
0
141
London marks 50 years of Pride

By Phil Hazlewood London on Saturday celebrated the 50th anniversary of its first Pride parade, marking half a century of...

Read more

In Cuba: sleeping fully clothed in case of building collapse

byAFP
July 4, 2022, 11:00 am
0
157
In Cuba: sleeping fully clothed in case of building collapse

By Rigoberto Diaz "When we go to sleep, it is with the fear of not waking up again," says Elisa...

Read more

Brazil sets new six-month Amazon deforestation record

byAFP
July 4, 2022, 10:30 am
0
141
Brazil sets new six-month Amazon deforestation record

Deforestation of the Brazilian Amazon reached a record level during the first half of 2022, the INPE national space agency...

Read more

US drought exposes murky mob past of Las Vegas

byAFP
July 4, 2022, 10:00 am
0
155
US drought exposes murky mob past of Las Vegas

By Huw Griffith Mobsters who end up sleeping with the fishes are usually never seen again. Firearms are displayed for...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App