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Manila Bulletin devider Business devider Trade & Industry devider US chip giants eyeing Philippines expansion

US chip giants eyeing Philippines expansion

Published Dec 16, 2024 07:36 am

The Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) said the Philippines is attracting interest from American semiconductor companies seeking to expand their operations.

In a statement, OSAPIEA Secretary Frederick Go said that the US semiconductor industry, including the Semiconductor Industry Association (SIA), is exploring investment opportunities to strengthen collaboration between the two nations.

"Our government has identified the semiconductor industry as the priority sector for investment,” Go said. "This reflects its vital role in driving economic growth, technological innovation, and job creation.”

On Monday, Dec. 16, President Marcos met with representatives from the US semiconductor industry, including John Neuffer, president of the SIA.

“This visit aligns with our efforts to position the country as a premier investment destination in the region and on the global stage," Go added.

OSAPIEA highlighted the shared priorities of expanding the Assembly, Testing, and Packaging (ATP) sector, building capacity in IC design, and developing a skilled workforce for the industry.

The semiconductor industry already a crucial role in the Philippine economy. In 2023, it became the country's top export sector, generating nearly $50 billion in exports and supporting approximately 3 million direct and indirect jobs.

The Philippines is particularly interested in the opportunities presented by the U.S. CHIPS Act, which includes a $500 million International Technology Security and Innovation (ITSI) Fund to be allocated among seven countries over five years.

This fund aims to promote semiconductor supply chain security and diversification, potentially boosting investments in manufacturing and innovation in the Philippines.

The U.S. delegation included SIA Director Jennifer Meng, US Ambassador to the Philippines MaryKay Carlson, and executives from leading semiconductor companies such as Allegro Microsystems, Amkor Technology, Analog Devices, Microchip Technology, and OnSemi.

The SIA is currently on a Southeast Asia tour to assess each country's semiconductor ecosystem. Trade and Industry Secretary Ma. Cristina Roque joined SAPIEA Go in the discussions.

"As discussions continue between U.S. semiconductor firms and Philippine officials, both parties are optimistic about forging partnerships that will drive technological advancements and economic growth," OSAPIEA noted.

‘This engagement represents a strategic move towards strengthening the Philippines' position in the global semiconductor supply chain while fostering local talent and infrastructure development. The collaboration between U.S. firms and the Philippine government is expected to create a robust semiconductor landscape that benefits both economies,” it added.

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Special Assistant to the President for Investment and Economic Affairs (SAPIEA)
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