Electronics investments may hit $1-billion this year, but the industry needs between $5-billion to $10-billion to move the industry to the next level of technology products and become globally competitive.

Arthur J. Young Jr., chairman of the Semiconductor and Electronics Industries in the Philippines Inc. (SEIPI), said this at Wednesday’s press conference, which highlighted industry’s first five months this year of $418.53 million that is almost at the same level of the $484.16 million investments generated in the whole of 2009 and employment generation of 473,000 as against 462,000 in 2009.

“We beat the whole year of 2009 investments in just five months this year. The electronics industry is back in business,” Young said.

The robust first five month investments this year has made SEIPI optimistic of bringing the industry investments back to the billion dollar level, which was experienced during the years 1994, 1995, 1996, 1997, 2000 and 2007. “There is no doubt, the $1 billion investment this year is achievable. We will beat the 2009 level obviously,” he said.

Young, however, said that a minimum of $1 billion investments would be need to keep where the industry is now.

“But, but we need $5 billion to $10 billion investments to bring the industry to the next level in the production of new technologies and become globally competitive,” Young said.

He said that if Vietnam could generate $10 billion electronics investments, there is no stopping the Philippines from achieving the same rate of inflows given all the right government support and investment climate.

He said that investments in the sector have suffered because of the perceived unstable political situation.

SEIPI is completing an six-year industry roadmap for presentation to the new government in August. It will be a detailed growth plan and industry direction to push the industry forward by aggressively courting big multinational companies to invest here.