President Marcos wants the government and other stakeholders to prioritize the development of the semiconductor and electronics industry, recognizing the amount of money the country earns from it.

Marcos said this during his meeting with the Private Sector Advisory Council-Education and Jobs Sector Group (PSAC-EJSG) in Malacañan on Tuesday, Jan. 21.

In his remarks during the meeting, the President recognized the industry's economic benefits to the country.

"We really need to push on the semiconductor industry. It’s because, again, it’s not something that we had in mind but the situation — considering how much money we make as the income we get from exports already," he said.

"We really should be focusing on it more. So, let’s do that now. So, we need to hear from the industry to see what you suggest, and what we can try to incorporate," he added.

A report from the Department of Trade and Industry (DTI) showed that the Philippine semiconductor and electronics industry remains the top contributor to the Philippine economy. It accounted for about 62 percent of the country's total exports last year at $43 billion.  

According to the President, one focus should be on granting incentives to semiconductor locators, similar to what is being extended to other industries. This could be done by implementing rules and regulations (IRR) for quick implementation.

Marcos said that in terms of CREATE MORE, there is nothing specific for the semiconductor industry, while other industries, such as car manufacturing, were given incentives.

"We’ll do it through the IRR (implementing rules and regulations) siguro. Kasi, it took us such a while to get the CREATE MORE in the first place. Kaya naman siguro kasi (I think it's achievable because) it’s just another incentive scheme," he said.

"So, what we would need from all of you is what you think needs to be done," he added.

The President's remarks came after the PSAC-EJSG recommended the review of the IRR of the CREATE MORE Law, which would cover providing incentives for the semiconductor industry.

The PSAC-EJSG also presented to President Marcos the country's semiconductor and electronics roadmap.

In addition, the PSAC recommended the creation of a National Education and Workforce Development Plan (NatPlan), which Marcos supported.