MANILA - The Philippines and U.S. welcome a strategic collaboration on semiconductors and critical minerals in the hopes that this will help the Philippines’ position to be a key player in the global economy, as well as for mutual growth and innovation.
This was confirmed by the Philippine Board of Investments (BOI) after a “pivotal meeting” with the United States Department of State Undersecretary for Economic Growth, Energy, and the Environment Jose Fernandez in Makati City last Tuesday.
"We welcome this strategic collaboration with the United States in semiconductors and critical minerals. This partnership not only reinforces the Philippines' position as a key player in the global economy but also opens avenues for mutual growth and innovation,” BOI Managing Head and Trade Undersecretary Rodolfo said in his opening remarks.
During the dialogue, Fernandez acknowledged the Philippines’ significant growth in semiconductors and critical minerals industries, highlighting its “well-educated and highly-trainable workforce.”
Fernandez committed to providing the Philippines an audience with the Minerals Security Partnership (MSP), a collaboration of 13 countries and the European Union (EU), which aims to catalyse public and private investment in responsible critical minerals supply chains globally.
He also emphasized that “the US is ready to assist in the technical processes as the Philippines prepares a work plan on critical minerals.”
Fernandez also mentioned that the Philippines is among the six (6) countries it will be supporting under the CHIPS and Science Act, recognizing the potential of the country’s semiconductor industry, its talent pool, and the assistance that will focus on assembly, testing and packaging.
The U.S. also announced that it will establish a more permanent presence in the Philippines by February through the US International Development Finance Corporation.
Meanwhile, the Philippines will venture into semiconductor design and is looking into the establishment of a “lab-scale wafer fabrication plant”.
According to the BOI, the wafer fabrication lab “aims to train and upskill the workforce, while enabling the local industry to do prototyping and some tape outs of semiconductor chip designs in the country instead of bringing them all the way to Taiwan.”
The BOI also shared that it is already finalizing its goal to produce 128,000 semiconductor-related engineers and technicians by 2028 to support the development of the country's semiconductor industry.
