By Justine Irish D. Tabile, Reporter
THE electronics industry said it does not expect any further investment in the remainder of the year, with potential entrants turning cautious due to possible fallout from the corruption scandal and US tariffs.
Ferdinand A. Ferrer, who chairs the Science and Technology Committee for the Philippine Chamber of Commerce and Industry (PCCI), said the investment flows are done for the year.
Speaking to reporters on the sidelines of the 51st Philippine Business Conference and Expo on Tuesday, Mr. Ferrer said: “The investments that are supposed to come in have already come. For the end of the year, we have very few that are coming in but we are looking forward to the first half of next year.”
He said some investors have opted to make smaller investments rather than embarking on major projects in one go.
“They are still very interested in the Philippines. (It’s not like they) don’t like the Philippines, they just have to wait for the next move on US tariffs,” he added.
He said that while the tariff situation remains fluid, corruption has become more top-of-mind, with the Philippines needing to show improvements in governance to remain competitive.
“We have to improve and show we can recover from (the corruption scandal),” he said.
“Our plea to the administration is to do it fast… we cannot let it drag without any measurable or visible action. Sana may makulong (I hope people go to jail),” he added.
He said the government should empower the private sector as its eyes and ears on corruption in public-works projects.
“It will take time before full transparency (is achieved) through digitalization. We cannot wait,” he said.
So far, he said that the corruption issues in the Philippines have not led to any diversion of investments or lost business.
“Will there be in the future? I believe there could be if we do not act. If this drags on for months, I think it will affect not only semiconductors, but also other investments,” he said.
“What we need to show globally, as a country, yes, we fell flat on our face, something happened, but let us rise up and do something together,” he added.