The Philippines is strengthening its position as a hub for semiconductor investments, with US firms expressing growing interest in the country’s dynamic electronics and semiconductor sectors.
President Ferdinand Marcos Jr. met on Monday key representatives from the US semiconductor industry at Malacañang, including Semiconductor Industry Association (SIA) president John Neuffer.
“Our government has identified the semiconductor industry as the priority sector for investment. This reflects its vital role in driving economic growth, technological innovation and job creation. The visit aligns with our efforts to position the country as a premier investment destination in the region and the global stage,” said Secretary Frederick Go, the Special Assistant to the President for Investment and Economic Affairs (SAPIEA).
The meeting was followed by high-level talks with Philippine economic officials to explore strategies for advancing potential collaborations and driving sectoral growth.
The government and US stakeholders agreed to focus on three critical areas for collaboration.
The parties aim to expand the Philippines’ assembly, testing and packaging (ATP) capabilities to strengthen its role in the global semiconductor supply chain, while also focusing on capacity building in integrated circuit (IC) design to advance the country’s position in electronics manufacturing.
Education and workforce development will be prioritized to ensure the industry has access to a skilled, future-ready talent pool.
The semiconductor sector accounted for nearly $50 billion in exports in 2023, making it the country’s top export earner while supporting three million jobs, both directly and indirectly.
The government is optimistic about leveraging opportunities presented by the US CHIPS Act, particularly the $500-million International Technology Security and Innovation (ITSI) Fund allocated for seven countries over five years.
The US delegation included SIA director Jennifer Meng, US Ambassador to the Philippines MaryKay Carlson and executives from leading firms such as Allegro Microsystems, Amkor Technology, Analog Devices, Microchip Technology and OnSemi.
Go said the visit is part of SIA’s tour across Southeast Asia to assess the region’s semiconductor ecosystems.
Both sides are optimistic about forging partnerships that could buttress the Philippines’ role as a critical player in the global semiconductor industry.
