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Electronics investments surge to $520M.
(From Philippine Daily Inquirer)
Byline: Ronnel W. Domingo
TOTAL investments in electronics and information technology approved during the first 10 months reached $502 million or 118 percent higher than the amount reached for the whole of 2003, an industry group yesterday reported.
The Semiconductor and Electronics Industries in the Philippines Inc. said the sectors it represented accounted for $368 million or 73 percent of the investments committed from January to October.
Projects lined up in the semiconductor and electronics sector came from 43 companies that have expanded their operations in the country, Seipi said.
Aside from that, 28 new electronics companies are new economic zone locators who have put up manufacturing plants in the Philippines.
The group added that the new investments were expected to create some 195,000 jobs, of which about 24,300 are direct hires.
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