The Philippine electronics industry attracted $2.477 billion in fresh investments in 2011, the highest ever, and the new projects are expected to generate an estimated $5 billion in additional export revenues annually once they go into full commercial operation.

“Our rule of thumb is every $1 of investment generates $2 in additional exports,” Ernie Santiago, president of Semiconductor and Electronics Industries of the Philippines Inc. (Seipi), said.

Seipi, he said, is hoping that this development signals the start of a good year or “a snapback of our industry.”

Santiago noted that electronics investments were heavy in the last two months of 2011 at $1.877 billion.

Among the notable projects that were registered are those of Canon Business Machine (Philippines) Inc., P20.55 Billion; Amkor Technology Philippines Inc., P12.89 billion; Ti (Philippines) Inc., P12.668 billion; Ibiden Philippines Inc., P3.824 billion; Nidec Philippines Corp., P3.433 billion; Sunpower Philippines Manufacturing Ltd., P3.247 billion; Analog Devices Gen. Trias Inc., P3.154 billion; Philippine Manufacturing Co. of Murata Inc., P2.994 billion; Samsung Electro-Mechanics Philippines Corp., P2.184 billion; Aruze G.A. Philippines Branch, P1.273 billion; and Tong Hsing Electronics (Philippines) Inc., P1.054 billion.

“Everybody is expecting a good year this year so everybody is now moving,” Santiago said.

He said the $2.477 billion is the highest ever recorded in the industry’s history; it was also the 8th time the industry exceeded $1 billion in a year.

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By Max V. De Leon