Trade Secretary Alfredo Pascual welcomed MinebeaMitsumi Inc.’s commitment to support the Philippine government’s goal to train 128,000 semiconductor professionals by 2028.
The collaboration strengthens the US CHIPS and Science Act, which prioritizes the Philippines and Japan as key partners in the $50-billion initiative.
A major Japanese player in the global semiconductor industry, MinebeaMitsumi’s involvement bolsters the Department of Trade and Industry’s (DTI) initiative to create a competitive pool of highly skilled professionals for incoming foreign investors.
The partnership aligns with the April 2024 trilateral summit between the Philippines, Japan and the United States, where all three nations pledged to strengthen the semiconductor supply chain and workforce development.
The semiconductor industry is a top priority within the Strategic Investment Priority Plan (SIPP), which aims to attract investments that promote sustainability and environmental protection.
The SIPP offers tiered incentives, with greater benefits for investments that deliver a more positive environmental impact.
The Philippines offers a compelling package for foreign investors in the electronics sector: a skilled workforce, competitive labor costs and preferential access to major markets through free trade agreements.
MinebeaMitsumi, a leading manufacturer of cutting-edge components like motors, connectors and sensors identified electric vehicles, renewable energy, artificial intelligence and extended reality as key growth areas in the global market.
“We are confident that by working together with global semiconductor leaders like MinebeaMitsumi, the Philippines’ advocacy for generating a highly skilled workforce to achieve economic and industrial security stands on solid footing,” said Pascual.