Biz Progress

Electronic investments in the Philippines rose to $480 million in 2009, up 20 percent from US$ 400 million in 2008.

The Semiconductor and Electronics Industries in the Philippines Inc. (SEIPI) said the improved investments data point to a strong recovery in the sector.

There were a total of 84 electronics firms that registered last year of which 78 were new projects while six others were for expansion, SEIPI said.

Major investors include the P9.9 billlion Japanese-owned Hoya Glass Disk; Toshiba Information Equipment (P1.1 billion); HPOI (P2.168 billion); Ibiden (P849.788 million); P2.3 billion, STMicroelectronics Inc. (P1.066 billion); Temic Automotive Philippines Inc. (P664.1 million); Taiyo Yuden (P500 million); and Numonyx Philippines Inc., (P959.4 million).

Ernesto Santiago, SEIPI president, said that more than 12,000 skilled engineers, technicians and operators were expected to be directly employed once these investments go into full stream operations.

An industry study shows that for every one direct job, there are seven other indirect jobs that will be created.

“This means close to 100,000 new jobs opportunities will be created because of these investments,” he said.

In line with the strong investments, SEIPI has also upgraded its export target for electronics exports for 2010, from 10 to 15 percent to 15 to 20 percent as many industry players reported strong orders from customers abroad.

Santiago said that ramping up of production of many investments projects were delayed in 2009 but were reported to be all rolling out now.

“With the recovering global economy, it is expected that more investments would come in the country this year,” Santiago said.

SEIPI is the leading and the largest organization of foreign and Filipino semiconductor and electronics firms in the country whose membership accounts for almost two-thirds of the total Philippines exports of merchandize goods.

 

Related posts:

1. South Korean firm investment in Clark to create 3500 jobs
2. Japanese firm to invest P 13B, hire 10,000 more workers
3. Finance Asia cites top Philippine financial institutions
4. B-I’s foreign employer visa scheme creates 20,000 jobs
5. MasterCard Worldwide bullish on Philippine economy

 

 

     Print