The US-based Semiconductor Industry Association paid a visit to the Board of Investments to share investment prospects and business opportunities in the Philippines, following the passage of the CHIPS Act of the United States.
SIA chief executive officer John Neuffer and vice president for global policy Jimmy Goodrich discussed with BOI managing head Ceferino Rodolfo the possible collaboration in the electronics and semiconductor industries.
“While the CHIPS Act aims to increase the capacity of the US semiconductor industry, we recognize that we cannot do it all in the US. And that’s where countries like the Philippines have an opportunity. The CHIPS Act encourages manufacturing in the US, but rather than reshoring all manufacturing activities, it is more of rebalancing the supply chain,” Neuffer said.
SIA officials recognized the Philippines as a critical player in the global semiconductor industry and a major hub for semiconductor assembly and test manufacturing.
The pandemic has forced global businesses to rethink their supply chain strategies and consider diversification of suppliers to mitigate disruptions in their business operations, the two executives said. Othel V. Campos