The semiconductor and high-tech sectors remain a top priority for the Philippines, Department of Trade and Industry Secretary Alfredo Pascual said in a meeting in the Netherlands.
“One of the critical reasons why semiconductor investments are gaining traction is the rapid pace of innovation and the increasing complexity of semiconductor technology,” he said.
“We are moving toward a more interconnected and data-driven world, this is why the demand for high-performance and energy-efficient semiconductors continue to rise. This, in turn, presents a huge opportunity for the Philippines as this sector possesses huge long-term potential that will drive the country’s economic growth,” Pascual said.
Pascual also expects more employment opportunities for Filipino engineers in the semiconductor and high-tech industries. “The Philippines boasts itself in our vast number of engineers and robust workforce, having a nearly competitive integrated circuit design engineers and experience in FinFET technology.”
In a concerted effort to intensify initiatives to promote and expand investments in the semiconductor and high-tech sectors within the Philippines, Pascual led a roundtable meeting on 30 June 2023, focusing on semiconductors, automotive and integrated circuit design.
He said the Philippines is on a remarkable journey toward economic development. “The Philippine economy accelerated to a GDP growth rate of 7.6 percent in 2022, from 5.7 percent in 2021. This growth surpassed major emerging economies such as Vietnam with 5.9 percent and China with 2.9 percent,” he said.
Such growth is a testament to the efficiency of the Philippine government’s continuing efforts to attract more investments in the country that will generate high-quality and better-paying jobs for Filipinos, facilitate technological transfer, and develop domestic industries, he said.
Despite recent global political and economic developments, the Philippines achieved a GDP growth rate of 6.4 percent in the first quarter of 2023, the fastest growth among ASEAN countries. Currently, the government is targeting 6.0 percent to 7 percent growth for 2023.
The Dutch companies who attended the roundtable expressed their satisfaction with the exciting developments unfolding in the country.
Mr. Smit of Holland Semiconductor and Mr. Van Endhoven of High Tech NL, on the other hand, encouraged the sustained engagement and collaboration between the semiconductor and high-tech sectors of the two countries.
The upcoming Dutch trade mission to the Philippines in October 2023, led by Business Connect and the Dutch Chamber of Commerce of the Philippines in coordination with the Philippine Trade and Investment Center directly contributes to this objective. Additionally, Filipinos in the Dutch semiconductor industry are keen to support the government’s initiatives.
The meeting was organized by PTIC in Brussels, Belgium in partnership with Briskr and Noviotech Campus in order to gather Dutch semiconductor and high-tech sectors in the Nijmegen and Eindhoven areas where most of the major high-tech companies are located.
Noviotech Campus serves as the Health and High-Tech hub in the Netherlands where chip companies work closely. It is home to more than 70 companies, providing jobs to over 3,400 people in the high-tech and health sectors. Like other Dutch excellence centers, Noviotech follows the triple-helix approach where government, business, and academia join hands to drive the sector’s future.
The meeting was also attended by Semiconductor and Electronics Industries in the Philippines Foundation, Inc. president Dan Lachica who delivered a presentation on the role of semiconductor in automotive, healthcare, and digital industries, IT and Business Process Association of the Philippines president Jack Madrid who discussed high value strategic services and available opportunities in the Philippines, as well as Department of Energy Assistant Secretary Mylene Capongcol who also discussed DOE’s key initiatives toward the use of sustainable energy in the semiconductor sector.
Also present during the meeting were Philippine Ambassador to The Netherlands H.E. Jose Eduardo Malaya, DTI Undersecretary for Communications Kim Bernardo-Lokin who delivered a closing remarks in support of Secretary Pascual’s vision for the Philippine domestic industries, PTIC-Brussels Commercial Counsellor Magnolia Ashley, Board of Investments Executive Director Evariste Cagatan, Director Lanie Dormiendo, and other public and private sector representatives.