Semiconductor Industry Sees $400-M Investments
Byline: BERNIE CAHILES-MAGKILAT
Investments in the domestic semiconductor and electronics industry are expected to reach between $300 million to $400 million as companies acquire new capital equipment to cope up with new technology and expand their operations.
This was the assessment of Norberto Viera, president of Texas Instruments Philippines Inc. (TIPI) and president of the Semiconductor and Electronics Industry in the Philippines Inc. (SEIPI).
Viera said there are also new products that require the installation of new technology.
TIPI alone has invested $35 million in the first three months of the year for capital equipment.
Investments in the technology industry is also expected with the anticipation of a recovery of the U.S. economy.
Viera further projected of a 10 percent increase in exports to $26 billion from $24 billion level last year.
TIPI alone is expected to post $2.5 billion in exports from $2.2 billion exports registered last year.
The increase in exports, Viera is bouyed by the shift in the production of some products to the Philippines from SARS-affected countries, particularly China.
According to Viera, some companies are going to shift production of some volume products with faster turnaround to the Philippines to meet delivery requirements.
This just for contingency products, Viera said. …