Incoming Trade and Industry Secretary Cesar A.V. Purisima said he was optimistic that exports and investments would grow this year despite uncertainty over the May elections, which could keep businessmen on a wait-and-see mode.
In a briefing in Malacanang, Purisima said the overall forecast for Philippine exports this year was favourable in view of the rosy projection for shipments of computer chips and electronic products.
"The semiconductor industry (which accounts for 70 per cent of total exports) expects revenues to rise between 10 per cent and 30 per cent due to strong global demand which means that total exports would grow by at least 10 per cent too," Purisima said.
While he has yet to set an investment target this year, Purisima said his goal during the next few months was to attract more foreign investors, to retain existing players and encourage them to grow their businesses further.
