Arthur Tan, SEIPI president, reported that it’s just not China anymore.
He explained that while it has been a "China or bust" attitude in the past, the attitude has changed that manufacturing in one low cost area could be risky for a variety of reasons including geographical unrest and catastrophic weather conditions.
According to Tan, it is expected that registered investments during the first half of the year, once fully operational, would bring in 8,750 new direct jobs and 60,250 indirect jobs.
Tan added that the electronics industry is projecting a high of $1-billion investment for the year.
The projected investments, Tan said, would come from new companies and expansions of existing companies who have set up their operations in the Philippines.
The P15.826 billion in new investments in the first half of the year were registered by 66 companies that include Texas Instruments Philippines, Integrated Microcircuits Inc., Cypress Manufacturing Ltd., Taiyo Yuden, TDK Fujitsu, Ionics EMS, Hoya Glass Disk, NEC Toppan Circuit Solution to name a few.
Last year there were only 55 companies who registered new investments during the first half of the year.